Stocks have shifted more to the downside and so have yields. Remember today is a triple witching where options and indices expire. Add to that, the volatility from the financial anxiety is helping to pressure equities. However some big shares like Microsoft are still higher (about 1.9%). Nvidia which has been surging this week is also up by 2.2%.
First public shares are moving lower as is the regional bank index. FRC shares are currently down $7.85 or -22.85%. The KRE regional bank index is now down -5.11%.
A snapshot of the market currently shows:
- Dow Industrial Average -400 points or -1.25% at 31847
- S&P index -40 points or -1.02% at 3919.65
- NASDAQ index -80 points or -0.68% at 11637.21
in the US debt market:
- two year yield is back below 4% at 3.993%, down -13.8 basis points
- five year yield is at 3.522% -21.4 basis points
- 10 year yield is at 3.415% -16.8 basis points
- 30 year yield is at 3.607% -10.6 basis points
The 10 year yield moved to a low this week of 3.369%. The low yield today has reached 3.406% so far. The low yield for 2023 is at 3.321%.
10 year yield moves toward low for the week
A look at other markets:
- crude oil is moving back toward the low prices from this week down to $65.65. The price is currently trading at $66.59 within one dollar of that low.
- Gold is surging to the upside and trades up $36 or 1.87% at $1957.46. The high price reached $1959.62 that was just short of the February high (and highest level since April 2022) at $1959.74
