Treasurys Rally as Investors Move to Safer Havens - Adviser Investments

Treasurys Rally as Investors Move to Safer Havens

Adviser Investments Vice President Chris Hagan has the market analysis for Thursday, May 23. Despite rebounding from intraday lows, major U.S. stock indexes once again ended the day with declines. The Dow Jones Industrial Average, S&P 500 and NASDAQ fell 1.1%, 1.2% and 0.2%, respectively, on lingering trade-related concerns. Meanwhile, 10-year Treasury yields fell to their lowest level since 2017 as investors sought refuge in Treasurys, gold and utilities. Oil prices also continued their decline, dropping an additional 6% and are currently on target for the worst weekly returns of 2019. Meanwhile, Best Buy beat first-quarter earnings expectations; however, the electronics retailer opted not raise its full-year forecast because of tariff-related uncertainty.

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