The stock market’s prolonged pullback from its 2023 highs began in July just as the 10-year Treasury yield began its steep ascent from 3.75% to 5%.
When political operator James Carville said nearly 30 years ago that he'd like to be reincarnated as the bond market because then he "can intimidate everybody," he couldn't have known this included the stock investors of 2023. He spoke as a top aide to President Bill Clinton during a previous bond-market crash that was serving to retrain an economy that was just starting to cruise while crimping the administration's plans for expansive fiscal programs.
Of course, even if long-term yields were rising largely in response to a better-than-expected economy and a patient but resolute Fed, the effect is to have long rates rising much faster than short-term yields, un-inverting the Treasury curve – which is something that historically happened as the economy neared a recession.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Top Fall 2023 / Winter 2024 Shoe Trends 2023 / 2024 » Fashion AllureLatest Fashion Trends, Shoes and Accessories, Celebrity Style
Read more »
Top Fall 2023 / Winter 2024 Fashion Must-Haves 2023 / 2024 » Fashion AllureLatest Fashion Trends, Shoes and Accessories, Celebrity Style
Read more »
Top Fall 2023 / Winter 2024 Bag Trends 2023 / 2024 » Fashion AllureLatest Fashion Trends, Shoes and Accessories, Celebrity Style
Read more »
The Most Wearable Fall 2023 / Winter 2024 Fashion Trends 2023 / 2024 » Fashion AllureCompilation of the hottest trends in clothing based on fall 2011 winter 2012 runways. What’s en vogue this season? Find out here!
Read more »
A Guide To The 2023 Winter Knitwear Trends 2023 / 2024 » Fashion AllureLatest Fashion Trends, Shoes and Accessories, Celebrity Style
Read more »
Report: Phoenix high school football player's drowning was 'accidental'The drowning happened at Show Low Lake in July 2023
Read more »