Having It Both Ways: Investors Bid Up Stocks On Treatment Optimism, But Treasuries Stuck

Having It Both Ways: Investors Bid Up Stocks On Treatment Optimism, But Treasuries Stuck

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Key Takeaways:



More green early on as investors seem enthused about possible virus progress

Fixed income stuck in place, possibly reflecting a little caution

Travel, leisure stocks get into the act early on hopes of progress in reopening



The week starts with a bit of a head-scratcher. The major stock indices are flying on hopes for new tools to fight COVID-19, but fixed income is stuck in place.



The 10-year yield ended last week at 0.64%, and then made a dramatic move all the way to 0.638% as of an hour before the opening bell. Let's call it basically unchanged. This might be reflecting a little reluctance by many investors to rotate more heavily