Yields on benchmark 10-year U.S. Treasuries, which fall when prices rise, tumbled nearly 9 basis points overnight to 1.5790%, and drifted lower to 1.5750% in Asian trade US10YT=RR, not far above a three-month low of 1.5700% hit on Tuesday.U.S. Fed chairman Jerome Powell said, after keeping rates on hold as expected, that the central bank “is not satisfied with inflation running below 2% and it is not a ceiling.
Powell also snuffed a small rally in equities on Wall Street, saying the new coronavirus, which has been spreading rapidly from its origin in Wuhan, China, added to global uncertainty. The World Health Organisation’s Emergency Committee is due to reconvene on Thursday to decide whether the rapid spread of the virus now constitutes a global emergency.
What about white people stocks? Did they go up or something? Oh I think I caught the Anxiety virus! Someone hook me up with some bars.
Late capitalism...when a deadly novel global pandemic is reported in context of its economic costs first...'the malls are empty, people aren't consuming...oh, and people are dying...so they can't consume (obey) either...'
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