Bond Markets Shrug Off Positive Data Ahead of Election — Market Talk

Instant View: U.S. stocks tumble again as election looms, virus spread balloons
October 28, 2020
Peter Cardillo on Global Market Trends | ET Now
October 29, 2020

Bond Markets Shrug Off Positive Data Ahead of Election — Market Talk

09:16 ET – The 10-year Treasury yield is stable at 0.779%, in a sign investors don’t think much of the stronger-than-expected 3Q GDP report, says Spartan’s Peter Cardillo. “The 33.1% growth is great for the headlines, but the 4Q is a different story,” he tells WSJ. “Without help, it will be a double-dip recession.” Even the weekly jobless claims, which also beat expectations, is being shrugged off by investors given the uncertainties around next week’s elections. If Joe Biden wins and Republicans still control the Senate, “there’s no reason why Republicans will help him passing a big stimulus package,” Cardillo says.