30-Year T-Bond Futures Market News and Commentary
What you need to know…
The S&P 500 Index ($SPX) (SPY) Tuesday closed down -0.06%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down -0.22%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.24%.
Stocks on Tuesday settled mixed. A decline in bond yields Tuesday supported technology stocks and the Nasdaq 100. Bond yields tumbled after the Oct JOLTS job openings report fell more than expected to a 2-1/2 year low, a sign the labor market is cooling and a dovish factor for Fed policy. Stocks had some positive carryover from Tuesday’s rally in the Euro Stoxx 50 to a 4-month high as European government bond yields fell after ECB Executive Board member Schnabel said another hike in interest rates by the ECB was "rather unlikely." Stock gains were limited after China’s Shanghai Composite fell to a 5-week low when Moody's Investors Service cut its outlook on China’s sovereign debt to negative, which is bearish for global growth prospects.
On the negative side f... Read more