April 2, 2019 Today's Markets are a Hot Bed of Rest by Lester Murray
Mid-day finds domestic markets treading water. Equity prices have slipped a little bit after yesterday's rally while bonds are regaining some of the ground given up yesterday. Overnight news reported yet another failed Brexit vote as the April 12 deadline creeps ever nearer. Today's only scheduled data reports are preliminary readings and won't be finalized for a couple of weeks. But, that doesn't mean they're ignored. The 1.6% decline in February Durable Goods isn't good news, but it's not as bad as the 1.8% drop that was expected. Without Transportation components, a rise of 0.1% was reported. Non-defense Capital Goods Orders dipped slightly by 0.1%. At the moment, the yield "curve" looks thus: 90 days 2.40%, Two-Year 2.31%, Five-Year 2.29%, Ten Year 2.48%, and 2.88% for the long guy.
Posted on Tue, April 2, 2019
by Lester Murray