Bonds Up; Equities Off

Equity-centric financial markets are taking their cues from stock investors this morning as a string of disappointing earnings reports are getting the blame for today’s red arrows in the stock market. Bonds are the beneficiaries of the angst as the Ten-Year’s quarter-point rally has taken its yield down to around 52 basis points. Crude oil is off a nudge, but still north of $40 while gold is holding fairly steady around $1,974.

A little later this morning, reports for Factory Orders, Durable Goods, and Capital Expenditures are all expected to show generally positive June results.