Vista Partners Daily Market Recap 10/9/2018
As trading closed on Tuesday, U.S. stocks were mixed once again. The S&P 500 dropped 0.14% (4.09 points) while the Dow decreased 0.21% (56.21 points). In a reversal from yesterday, gains in tech stocks contributed to the Nasdaq posting an increase of 0.03% (2.07 points). Tech giant Apple, Inc. (AAPL) closed trading at $226.87 up 1.39% on the day, Visa, Inc. (V) closed trading $142. 31/share up .30%, and biopharmaceutical & breast cancer focused firm Atossa Genetics (ATOS) closed trading up 1.835% today at $1.67/share.
However, reopening after the Columbus Day holiday, bond markets stole the spotlight as the 10-year Treasury note hit a 7 year high of 3.25% only to fall back to 3.204% where it closed for the day. Despite rising rates, many investors seemingly remain unconvinced that the current levels of bond yields are high enough to justify a return to bonds.
BofA analysts addressed this, saying “When do equity investors go back to bonds? There is no magic number, but if we had to pick: 5%.”
Our number is closer to 6-8% for bonds!
Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives.
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