Stocks and bonds, which rallied on Friday after Fed swaps priced in a quarter-point rate cut by May and a full percentage point cut by December 2024, are giving back some of their gains on the first trading day of the new week.
The yield on the 10-year US Treasury note, which closed Friday with a 13-basis-point drop, is trading at 4.251 percent this morning, up five basis points. The S&P 500 and Nasdaq 100 closed Friday with gains exceeding 0.5 percent. Futures for both indices are experiencing losses.
LOSSES ALSO REFLECTED IN ASIA-PACIFIC STOCK MARKETS
The dollar is recovering slightly against developed market currencies. The Bloomberg Dollar Index, which closed last week with a 0.4 percent decline, begins the new week with a 0.1 percent rise at the 1,235 level. Oil prices continue to fall on the belief that OPEC+ supply cuts will not balance the market. Brent crude, which has been declining for the last six weeks, fell 0.4 percent to 78.5 dollars.
News Source: 12punto
