Steven Van Metre Stocks were flat in overnight trading and in a rare move, down slightly in early trading. Treasury yields were flat in overnight trading going into today’s PPI print which sent 30-year Treasury yields back up to 2.2%. The Producer Price Index rose +0.8% in May and +6.6% from this time last year. Excluding food and … Read more
Stocks were flat in overnight trading and were down slightly in early trading. Treasury yields rose in overnight trading and continued higher in early trading. Stocks closed slightly higher on the day and Treasury yields lower after 30-year Treasury yields came close to 2.2% before closing slightly below 2.2% on the day.
Stocks rose slightly in overnight trading and were flat in early trading. After their big move lower yesterday, Treasury yields rose slightly in overnight trading and extended their increase in early trading as sellers were hoping to drive yields higher. With a surge of buying in the final hour of trading, stocks closed higher on … Read more
Stocks rose in overnight trading and the S&P 500 briefly saw new all-time highs in early trading. Treasury yields were up slightly in overnight trading before the CPI report which led to 30-year Treasury yields backing up to 2.2% before declining back to their early morning lows. Initial claims for unemployment benefits fell last week … Read more
Stocks started the day higher and were holding their overnight gains in early trading. Treasury yields collapsed in overnight trading and despite sellers attempting to drive yields back up, yields were holding most of their overnight gains in early trading. Mortgage applications fell -3.1% last week as purchase applications rose +0.3% and refinance applications fell … Read more
Stocks rose in overnight trading but quickly gave back their overnight gains in early trading as stocks were down slightly in early trading. Treasury yields fell in overnight trading as 30-year Treasury yields fell to 2.2%. Sellers pushed back against the overnight decline but yields remained lower in early trading. The NFIB Business Optimism index … Read more
Stocks rose slightly in overnight trading but the overnight bump was short-lived as stocks fell in early trading. Treasury yields rose slightly in overnight trading and were holding their overnight move in early trading. Stocks closed slightly lower except for small-cap stocks which closed higher on the day. Treasury yields closed slightly higher on the … Read more
Since the Great Financial Crisis, when regulators were forced to consolidate the banking industry to save the financial system, four large commercial banks emerged as key to holding the financial system together. Two of those large commercial banks, Bank of America and JPMorgan Chase, are drowning in cash from repeated government stimulus programs. The commercial … Read more
Stocks rose in overnight trading as investors celebrated a weaker-than-expected payroll report. Stocks continued their overnight rally into early trading. Treasury yields were flat in overnight trading until the payroll report numbers hit which lead to a decline in yields, followed by a spike in yields, and then another decline in yields that continued into … Read more
Stocks fell in overnight trading but were given a boost in early trading as the Biden Administration indicated it was making changes to the tax proposal to gain GOP support. Stocks remained lower in early trading. Treasury yields rose slightly in overnight trading and sellers were back as they pushed 30-year Treasury yields back over … Read more