real-time news and commentary for investors
Monday, Sep 16
- Global equity markets seem to be breathing a huge sigh of relief after QE hawk Larry Summers drops out of the race to become the next Chairman of the Fed.
- The Dow is +1%, the S&P +0.95% and the Nasdaq +0.8%, while European shares are strongly higher as well.
- "Investors are saying that QE may not be as aggressively dialed back under Yellen, who is now the front-runner," says Wealth Manager Walter Hellwig. "QE is still a very important factor in the minds of investors and we can see this in the potential movement of the stock and bond markets.
- 10-year Treasury yields are -9 bps at 2.79%, while the dollar index is -0.5%.