Investors rushed to safe haven bonds, pushing yields lower, and eschewed stocks as worries over the coronavirus outbreak spiked. The 10-year Treasury note is seeing such a bid that the yield, which moves inversely to price, neared a record low
"The safety trade has become so stretched to the upside that it's really the expensiveness of bonds and safety that I think should provide a floor for the stock market," Wald said Monday on CNBC's ""In particular, the difference between the S&P earnings yield and the 10-year U.S. Treasury yield, we're at levels similar to November 2016, December 2018, May 2019. And so for these reasons, I think it's made stocks relatively attractive," Wald added.
"Folks are just running out of equities and buying bonds at all costs and I don't think that's the smart thing to be doing here," Tatro said during the same segment. "We've been waiting patiently for a pullback. The market has been overbought for a long time."
TradingNation Y'all better give royalties to my man JayWoods3 for using such a beautiful pic of him
TradingNation My prediction will be within 120 days you'll see a 22k. Let's hope a mighty can come up with an injection which will both say people in the Dow otherwise this Dow is finished within six months...
TradingNation Whistling past the graveyard.
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