NESAN NAIR, SASFIN SECURITIES PORTFOLIO MANAGER
Loading player...
The steadying of the US Treasury market and talk of economic stimulus in Germany and China helped lift Wall Street stocks on Monday.
Yields on the 10-year US Treasury note were solidly higher, rising back above those for 2-year notes, an improvement for an indicator seen as a reliable recession warning.
The Dow suffered its worst session of the year last Wednesday after yields on short-term US Treasuries briefly exceeded long-term notes, but since then, US stocks have risen the last three sessions.
Europe has a 70% chance of crashing into its second recession in the space of a decade, according to leading economist and bond expert, Mohamed El-Erian. El-Erian, Allianz's chief economic adviser, told Financial Newsthat Europe is "quickly losing momentum" and the EU is "teetering on the edge of a significant slump." The call comes at a tumultuous time for Europe, as Germany's central bank just warned Europe's biggest economy could well be headed for a recession after it contracted 0.1% last quarter.
Yields on the 10-year US Treasury note were solidly higher, rising back above those for 2-year notes, an improvement for an indicator seen as a reliable recession warning.
The Dow suffered its worst session of the year last Wednesday after yields on short-term US Treasuries briefly exceeded long-term notes, but since then, US stocks have risen the last three sessions.
Europe has a 70% chance of crashing into its second recession in the space of a decade, according to leading economist and bond expert, Mohamed El-Erian. El-Erian, Allianz's chief economic adviser, told Financial Newsthat Europe is "quickly losing momentum" and the EU is "teetering on the edge of a significant slump." The call comes at a tumultuous time for Europe, as Germany's central bank just warned Europe's biggest economy could well be headed for a recession after it contracted 0.1% last quarter.
