Once considered the global safe haven, the US bond market is facing a withdrawal of support. Such a withdrawal could derail global economic rescue plans.
A volatile day of thin, pre-holiday trading sees gauges wipe off the day’s gains in the last hour of trade.
Fears the US could lose its AAA rating sent everything lower in concert last night. Dow down 130.
An attempted rally was snuffed out last night as the Fed minutes showed a reduced GDP estimate and increased unemployment. Dow down 50.
The “green shoots” stock rally and signs of credit market easing were enough for the RBA to decide on a wait-and-see approach at this month’s meeting.
Pullback? Wall Street grasped positive housing data and the Indian surge last night to swing violently back to the upside. Dow up 235.
The “less bad” theme took a hammering last night as US retail sales fell and mortgage foreclosures rose. Dow down 180.
There were no real surprises in last night’s budget and no cause for stock market alarm. However specific sectors are winners and losers.
The Dow added 50 points last night but the S&P 500 was lower.
Wall Street took a breather as capital raisings began to become the order of the day. Dow down 150.