[Chart courtesy of MarketWatch.com] Moving the markets The futures markets already indicated uncertainty, causing the Nasdaq to stumble, a trend that accelerated during the regular session with the index surrendering some -2.41%. This validated my thoughts of leaving the tech sector last week in favor of “value,” which so far has been the correct call. The Dow was unaffected by …
The Fed Fails To Deliver—Markets Tank
[Chart courtesy of MarketWatch.com] Moving the markets An opening puke in the markets gave way to a rebound back above the unchanged line, but that gain was short lived, and down we went in the afternoon session. A last hour rebound reduced some of the losses, but the three major indexes ended up in the red with the Nasdaq producing …
Jumping Bond Yields Penalize Equities
[Chart courtesy of MarketWatch.com] Moving the markets The tech sector was spanked today, as rising bond yields raised concerns about high equity valuations and a potential increase in inflation. The benchmark 10-year bond yield jumped as much as 8 basis points intra-day to 1.49% but pulled back slightly and finished the session at 1.47%. I have pointed to surging yields …
Loosing Upward Momentum
[Chart courtesy of MarketWatch.com] Moving the markets The futures markets got rattled early on by comments from China’s top banking regulator jawboning that “he’s very worried about risks emerging from bubbles in global financial markets and the nation’s property sector.” That’s all it took to put the fears of further tightening, aka higher interest rates and bond yields, on the …
Slumping Bond Yields Equal Surging Equities
[Chart courtesy of MarketWatch.com] Moving the markets For a change, the positive mood in overnight futures trading, carried through into the regular session with equities surging out of the gate without so much as taking a pause. Turns out that after last week’s rut, some Central Banks (CBs) around the world were not taking any chances. Some doubled the amount …
Bond Yields Jump And Markets Dump
[Chart courtesy of MarketWatch.com] Moving the markets I have repeatedly pointed to rising bond yields as being the big equalizer that could affect equities negatively, and that’s what happened today. For the past 2 trading days, it was the Fed & Co. issuing well placed statements thereby assisting the major indexes to overcome early bearishness. Where was the Fed head …