A Reversal of Some Fortune

Today has begun with Treasury yields moving off of some all-time lows to levels that aren’t much higher than all-time lows. With the DJIA poised to open significantly higher after yesterday’s historic 2,000 point sell-off, the Long Bond’s yield has been raised to higher-than-one-per-cent, the Ten-Year is yielding just north of 60 basis points, and the Two-Year sits comfortably at 40 basis points. Crude oil is up over $2 to around $33.50 while Gold has given up around $20. The details of a stimulus plan proposed by the Trump Administration are expected to be forthcoming today and has become a source of some comfort to some investors. Meanwhile, the NFIB released its Small Business Optimism Index and it provided an upside surprise. January’s Index value of 104.3 was expected to plummet to less than 103 but instead got an upward nudge to 104.5. The time-range for this survey ran through the end of February.