(As of 7:07 am PST)
Stocks are near unchanged this morning after last week’s
pummeling which saw markets decline for the worst weekly losses of 2013. Economic data is light today while
investors remain spooked over the Fed’s plan to exit its stimulus program. The markets will be eyeing Wednesday’s release
of meeting minutes from the Fed’s most recent policy setting meeting, looking
for more clues on the Fed’s next move.
The big story of the day is the sharp rise in interest rates, with the
10 yr. treasury yield approaching 3%.
The 10 yr. treasury yield hit 2.87% this morning, the highest level in 2
years for the key interest rate benchmark.
Rates have been climbing higher since talk of ending the Fed’s bond
buying program began in late Spring. In
company news, shares of Intel are higher by 1% on an analyst upgrade, while
Facebook and Apple are leading tech gains.
International markets are mostly lower following Wall Street’s selloff
last week. A lack of data over the next
two days may bring some calm to markets, but volatility will likely pick up as
Wednesday’s Fed minutes are released.
No comments:
Post a Comment