Capital Markets Newsletter – July 20, 2021

The recent decline in US Treasury yields mirrored the declines in equities this past week, particularly Monday, July 19th. The Dow dropped by 946 points (2.72%) leading to the largest single-day percentage dip of the year, while the Nasdaq saw a dip of 1.30%, following last week’s downward trend. The 10-year and 30-year US Treasury yield fell to as low as 1.17% and 1.80%, respectively. With yields more than 15 BPs lower week over week, fear of a peaking economy continues in the face of renewed virus fears and elevated inflation expectations.

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