Global stocks spooked, oil sinks as bond markets scream recession

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Asian stocks slid and oil prices extended a punishing sell-off on Thursday as in...

TOKYO - Asian stocks slid and oil prices extended a punishing sell-off on Thursday as investors feared an historic drop in long-term U.S. bond yields could prove a herald of recession globally.

Yields on 10-year paper dropped to 1.55%, taking them under two-year paper. Such an inversion was last seen in 2007 and correctly foretold the great recession that followed a year later. The futures market was clearly expecting drastic action as it priced in a greater chance the Fed would have to cut rates by half a point at its September meeting.

MSCI’s broadest index of Asia-Pacific shares outside Japan dropped 0.8% and briefly touched a seven-month low.All three of the major U.S. stock indexes tumbled about 3% overnight, with the blue-chip Dow posting its biggest one-day point drop since October.

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And most of the tools in box to fight recession have already been used to indulge the rich and powerful.

How do I buy humidity futures? Also mosquitoes

Spooks, sinks & screams... objectivity

TrumpRecession TrumpRecession TrumpSlump TrumpCrash More Tariffs

Money isn't everything.

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