30-Year T-Bond Futures Market News and Commentary
What you need to know…
The S&P 500 Index ($SPX) (SPY) Monday closed down -1.30%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down -0.77%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -2.09%.
Stocks retreated Monday in a risk-off environment ahead of interest rate decisions from the Fed, ECB, and BOE later this week. The Fed is expected to lift the fed funds target range by 25 bp on Wednesday, dialing back the size of the increase for a second straight meeting after recent data suggest the pace of inflation had slowed. However, post-FOMC meeting comments Wednesday from Fed Chair Powell may push back on expectations that the Fed is close to ending its rate hike campaign. The ECB and BOE on Thursday are expected to increase interest rates by 50 bp.
Higher bond yields Monday weighed on technology stocks. Also, a slump of more than -2% in WTI crude oil to a 2-week low undercut energy stocks. In addition, electric vehicle stocks tumbled after Ford Moto... Read more