Good morning – I’m sure you’ve probably seen how stock futures are down another 150 points or so on the Dow. What you may NOT have seen is the absolute crash we’re seeing in European bank shares.
Some individual banks that trade here in the U.S. as ADRs are down 10% to more than 20% from their already-ugly Friday closes.
U.S. Treasury yields are plunging again in sympathy, with the yield on the 30-year bond down more than 12 basis points to 2.31%.
The all-time low set in the February panic was around 2.23%. So keep an eye on that. The 10s are going for around 1.48% right now – only 8 basis points away from the all-time low from July 2012
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they’re piling into bonds, aren’t they, mike? i’ll bet we see 1.25% on the 10-year before year’s end … and then what happens? pop goes the weasel?