Market recap: Stocks ended off their lows but still finished in the red, wiping out yesterday's...


Market recap: Stocks ended off their lows but still finished in the red, wiping out yesterday's gains, as investors grow more nervous about when the Fed might cut back stimulus. Losses in shares offering high dividends, such as consumer staples, utilities and telecoms, weighed. Treasurys rebounded a bit from yesterday's selloff but 10-year yields remained above 2.1%. Gold gained, supported by a weaker dollar.
Comments (4)
  • Guardian3981
    , contributor
    Comments (2492) | Send Message
     
    Aren't higher interest rates supposed to be bullish for the currency?
    29 May 2013, 04:24 PM Reply Like
  • Jeb Handwerger
    , contributor
    Comments (636) | Send Message
     
    http://seekingalpha.co...

     

    written back in July of 2012 calling top on treasuries...

     

    "There is beginning to be talks of buying mortgage backed securities or using new accommodative measures never seen before by mankind. However, in 2012 the treasury market is outperforming all asset classes including the S&P 500 (SPY) reaching historically overbought territory."
    29 May 2013, 06:48 PM Reply Like
  • Fear & Greed Trader
    , contributor
    Comments (10027) | Send Message
     
    Consumer staples, Utilities and telecoms, have outperformed , it's simple profit taking in sectors that are overbought ..
    29 May 2013, 09:01 PM Reply Like
  • Tack
    , contributor
    Comments (16259) | Send Message
     
    If something had a noticeable yield, it got sold.
    29 May 2013, 11:24 PM Reply Like
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