Wall Street feverish at the opening with the intensification of the pandemic
October 27, 2020
Oil Ends Higher on Storm, Reduced Covid Fears — Market Talk
October 27, 2020The 10-year Treasury’s yield slides to 0.81% as traders seek the safety of sovereign debt, boosting bond prices. The risk-off sentiment is fueled by Covid-19’s resurgence possibly leading to new lockdowns, and by US lawmakers delaying a fresh stimulus bill. “The futures are indicating an ugly start to a new week of trading as the domestic and global Covid-19 cases spike higher,” Spartan Capital’s Peter Cardillo says. “The spike in new virus cases and the fading hopes of an aid package announcement” is likely to keep the risk-off sentiment alive, he says.
