VIX Notches Its Longest Slide Since October 2015: Markets Wrap
- Treasury 30-year yield falls to lowest in more than a month
- Brent oil dips below $80 as focus shifts to weakening demand
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Stocks saw their November rally fade, with traders awaiting Jerome Powell’s take on Wall Street’s dovish narrative. Treasuries rose in a busy week for government sales.
Amid signs of buyer exhaustion, the S&P 500 rose only 0.1%, while still notching its eighth straight up day. Wall Street’s “fear gauge” — the VIX — saw its longest slide since October 2015. Ten-year yields fell below 4.5% after a $40 billion auction — despite mixed metrics, which included a slightly higher-than-anticipated rate of 4.519%: a sign that demand fell short of expectations. Thirty-year rates hit the lowest in over a month. Brent oil settled under $80.