rebound we had off of the lows and how magnificent it was. you have to put that in context with how fast we sunk into a bear market. that bear market drill down we 500, s&p&p p 500, that was the quickest drawdown we had on record here to see a bounce like this i guess is not completely out of the realm of expectations given how far and how quickly we fell. taylor: we were member that day clearly. it was march 23. just at the pace and rate at which you talked about the fall and the rebound. in the middle of this, we talk about a 50% rebound. you are still giving incredible superlatives when you talk about it really has been a risk on. it is consumer discretionary materials, tech, they are up 60% since the lows on march. really interesting that even though the fed has been so involved, the rate sensitive sectors have not been the all performers. romaine: i would like to get amy s perspective on the rates market. treasuries have been the low-flow shower of financial markets
here s abc 7 news meteorologist lisa argen. good morning. he scale anlookg at srs moving acro closer towards north beach, i-80 through berkeley, wet streets. over into walnut creek, danville 680, the showers extend out eastward and further to the south over in the hills, at hayward a few areas of rain and then a little bit heavier south of woodside in the santa cruz mountains. still quite a bit of activity across the state winding down throughout the day today. it is 53 in vallejo, 56 oakland, cooler than yesterday the strong south winds, starting out slightly cooler with a little bit of fog in hayward and napa. three mile visibility. scattered showers this morning and looking at a quieter afternoon. we ll talk about the week ahead in a few minutes. thank you. water really was everywhere. this is the van ness muni metro station where rain water cascading down an escalator. rain service was shut down from vanness to the west portal station to deal with this. reporter luz
scale. you can see much of the north bay is dry. we re going to zero in on the east bay and show you where that rain is. you can see far lake county, walnut crk, t discovery bay, it is wet with a few showers and down through danville, san ramon the 680 corridor and along the coast here from john mere drive, south city, and through hayward, around mission peek, fremont boulevard, wet weather in the santa cruz mountains. where some of the showers will linger throughout the day today as we look at the system winding down. we re in the low to mid 50s with some patchy fog and looking live outside, from our exploratorium camera, a few scattered showers around the bay today and they will be diminishing. temperatures if the uppers 50s to near 60. mxture of clouds and sun late in the day with the level one winding down for a dry evening tonight. thank you. water really was everywhere. this is the vanness muni station where rain water cascading down an escalator. rail service was s
points. russell, the underperformers. let s dive deeper into the action with our reporters. what were you watching? abigail: small moves for stocks, record highs, bigger moves for bonds. the 10 year yield down five basis points, the biggest move down, the biggest rally for treasuries. let s into the context of a paul.by he said if the 10 year yield breaches the downtrend in yellow, that he would turn bearish. could see the 10 year yield go up to 2.15%. mike: in the corporate bond market, all eyes have been on this monster offering from add ve to purchase its to fund its purchase of allergan. it is the fourth biggest deal of all time. the biggest. of the deer of the year the biggest of the year. if you look at the spread of investment-grade bond, fell to a 20 month low of 104 basis points yesterday. that is according to the bloomberg barclays u.s. aggregate corporate index. this obviously bodes well for what the bond market is really gearing up for. and that is what coul
of that tailwind. it is reflecting what you are talking about, the bullish versus the bearish. take a look at this range over the last year. .olding well investors got a little excited, but right now we are at the top of the range. it will be interesting to see whether we have macro data or , a turned to move up or back down into the range. when you look at the rally over the past few months, most strategists are standing by their year-end targets for s&p 500. out of 24 analysts, the average estimate is 2900. 2950 is the line in the sand. that is not different from where we were back in january or back in late february. that tells you something. see itght analysts getting to that 3000 level, and only two exceeding that level. the lowest price target is 2390. took a pause with prices flatlining in new york and london. brent looking at contracts traded in london, their best one quarter since 2009. the prices are at the highest level since november. there is a question of what