Stocks opened sharply amid falling rates, trade fears. The People’s Bank of China set its yuan target just a hair stronger than 7 per dollar, a relief to those worried about the psychologically significant round number, but weaker than some had anticipated. Unfortunately, that news wasn’t enough, however, as early-morning gains in futures reversed ahead of the open. Fresh multi-year lows in the 10-year Treasury and further declines in global yields added to the market’s angst amid escalated trade tensions. Look for more on the U.S.-China trade dispute later today on the LPL Research Blog. We discussed market volatility on the blog yesterday, in case you missed it.
Market Signals podcast. Listen to this week’s episode, in which Senior Market Strategist Ryan Detrick and Chief Investment Strategist John Lynch discuss the ongoing U.S.-China trade war and its effects on the U.S. and global economies. Subscribe to the free Market Signals podcast series on iTunes, Google Play, Spotify, or wherever you get your podcasts!
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