- S&P 500 -14 points to 3735 or -0.4%
- Nasdaq +0.2%
- Russell 2000 -0.3%
- DJIA -0.5%
- Toronto TSX Comp -0.9%
US stocks opened higher and made a decent push to the upside just after lunch in New York. The sellers hit shortly after that and stocks fell to the lows of the day. A late rebound erased that damage and the market closed near unchanged. That was at least a bit of stabilization after the 4% plunge yesterday and it comes with more hefty moves in bonds.
- 2-year +15 bps to 3.426%
- 5-year +12.8 bps to 3.59%
- 10-year +12 bps to 3.48%
- 30-year +6 bps to 3.43%
As you can see, 2s/30s are right on the cusp of inversion and earlier today, 2s10s were inverted by 5 basis points.
Notably, the Nasdaq is testing the 200-week moving average for the first time since the pandemic.
