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GLOBAL MARKETS-Global stock markets climb to record as U S yields hold above 5-month lows
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Low Interest on Savings Increased the Trend Towards Stock Markets, Four-Five Percent on FD and 10-12 Percent Return expected in the Market
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Wall Street spooked by spreading Delta variant
07/08/2021 | 05:35pm EDT
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A rocky day for stocks on Thursday as bond yields fell to lows not seen since February.
The yield on the 10-year note dipped for the eighth straight session - down below below 1.3 percent, in a sign investors are expecting slower economic growth.
As for the stock market: The Dow dropped 259 points. The S&P 500 fell 37. The Nasdaq lost 105.
Wall Street has turned cautious on the global economic outlook as the rapid spread of the Delta variant opens up a new phase in the health crisis, says National Securities Chief Market Strategist Art Hogan.
10-Year Treasury Yield Plunges to Its Lowest Level since February
Bond yields plummeted amid stalling economic recovery and Delta variant concerns
July 8, 2021
Easy there, tiger.
The yield on the 10-year Treasury note, which serves as a benchmark for interest rates across the US economy, fell for an eighth straight day yesterday to below 1.3% the lowest level since February. Since bond prices and yields move in opposite directions, falling yields signal higher demand for Treasuries.
Why it matters: At the most basic level, the 10-year yield is a key indicator of investors’ confidence in future US economic growth. As the Delta variant spreads and threatens to slow the economic recovery, the fall in yields means investors are souring on a mega growth spurt and snapping up safer assets rather than riskier stocks.
Dow futures tumble 500 points as Delta variant fears grip Wall Street
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