The stock market has finally come to grips with the notion the coronavirus is not contained. Cases are rising exponentially in South Korea, Italy, Japan, and Iran.

Equities Smashed, Gold Jumps

  • S&P 500: -3.2%
  • Nasdaq: -3.74%
  • Dow: -3.14%
  • Gold: +$26 to $1675, +1.59%
  • West Texas Crude: -$2.66 to $50.72, -4.98%

Numbers from 11:00 AM Central.

30-Year Bond Yield at New Record Low

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Recession Bells Yet Again

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The above chart is from Friday.

Inversions do not look as tight because in the prior two recession the 30-year bond inverted with the 3-month.

Even with today's record low move there is still 23 basis points of spread between the 30-year and the 3-month yield.

There is also 45 basis points between the 30-year and 10-year.

Largest Shipping Decline Since 2009

Please note we have already witnessed the Largest Shipping Decline Since 2009 and That's Before Coronavirus hit.

Recession is calling.

Mike "Mish" Shedlock​

Record Low 30-Year Bond Yield and Record High on Gold Coming Up

Once again, the yield on the 30-year long bond is below 2.0%. I expect a record low yield shortly. Gold will benefit.

First Time Ever: Entire Yield Curve Crashes Below 1.0%

The 30-year long bond yield crashed below 1.0% this morning to a record low 0.958%.

Historic Crash in Bond Yields and More Coming

Bonds yields crashed this week. The Fed made emergency inter-meeting cuts last week but that is just the start.

I Expect New Record Low Long Bond Yield

Every attempt of the 30-Year long bond to break out of a decades-long downtrend fails. At the end of October, the long bond yield was 2.96%. Six days into November, it's back at 2.80%. Meanwhile, short-term rates continue to rise. We are a recession away from a new record low yield on the long bond.

Pandemic Bonds Were Designed to Fail and They Just Did

Pandemic bonds issued by the World Bank in 2017 are on the verge of triggering.

New Record Low Yields on 10- and 30-Year Bonds: Double Cut?

Treasury yields continued a massive plunge today with new record lows. I sense a double rate cut by the Fed on March 18.

Entire Yield Curve Inverts, 30-Year Long Bond Yield Dives to Record Low

The stock markets are getting clobbered and bonds are on fire as recession fears escalate.

PPI Much Hotter Than Expected But Bond Yields Flat

The Producer Price Index jumped to 0.5% vs expectations of 0.1%. The bond market did not react one bit.

Grave Consequences: Italy Bond Yields Soar, Protests Called, Euro Referendum

Yields soared and Five Star has called for protests following Mattarella's decision to disallow a eurosceptic minister.