Treasury yields pushed 4-5bps higher on the day – the worst in 3 weeks – as yesterday’s test of 2014 lows saw some reactive bond-selling. Asian and EU PMIs sent stocks to record-er highs but absymal US PMI and housing data took the shine off the exuberance early on (despite the best efforts at a 5th short-squeeze ramp at the open in a row). AUDJPY was in charge of stocks once again helping the S&P desperatly cling to unchanged. Espirito Santo bankruptcy headlines stumbled stocks at around 1300ET (but that dip was bought).
Published in TZ Latest News 24 July, 2014 by The TZ Newswire Staff
Bonds & Bullion Tumble As Stocks Stumble On Macro Weakness
Published in TZ Latest News 24 July, 2014 by The TZ Newswire Staff
Bonds & Bullion Tumble As Stocks Stumble On Macro Weakness
Treasury yields pushed 4-5bps higher on the day – the worst in 3 weeks – as yesterday’s test of 2014 lows saw some reactive bond-selling. Asian and EU PMIs sent stocks to record-er highs but absymal US PMI and housing data took the shine off the exuberance early on (despite the best efforts at a 5th short-squeeze ramp at the open in a row). AUDJPY was in charge of stocks once again helping the S&P desperatly cling to unchanged. Espirito Santo bankruptcy headlines stumbled stocks at around 1300ET (but that dip was bought).