To gain an edge, this is what you need to know now.
Failing Yields
Please click here for a chart of S&P 500 ETF (SPY) which represents the benchmark stock market index S&P 500 (SPX).
Note the following:
- In the Morning Capsule, we shared with you that SNAP earnings had stoked recession fears.
- If the economy is truly slowing down, as it appears from SNAP’s warning, the Fed will be forced to be less hawkish.
- Yields have been falling all day on recession fears.
- The Treasury auction was stellar as investors rushed into bonds due to recession fears.