US STOCKS-Wall Street retreats as bond market fuels recession fears
The premium on three-month Treasury bill rates over 10-year Treasury yields, a closely watched U.S. recession indicator, was at its most elevated levels since March 2007. "Whether the U.S. economy is strong enough to withstand the next phase of a trade war is giving people concern right now," said Mike Loewengart, vice-president of investment strategy at E*Trade Financial in New York. Central banks in New Zealand, India and Thailand on Wednesday cut rates amid growing fears that the trade war could aggravate a slowdown in the global economy.
Published:8/7/2019 12:32:30 PM