Stock Market Update
11-Dec-24 15:00 ET
Treasury yields move up
Dow -27.28
at 44220.55,
Nasdaq +345.56
at 20032.34,
S&P +53.15
at 6088.06
[BRIEFING.COM] The S&P 500 and Nasdaq Composite trade close to their highs of the day.
Treasury yields were already moving higher and selling continued after the latest economic release. The 10-yr yield is up fi ve basis points to 4.27% and the 2-yr yield is up one basis point to 4.16%. This price action also follows a strong $39 billion 10-yr note reopening.
The reopening drew a high yield of 4.235%, which stopped through the when-issued yield by nearly two basis points while the bid-to-cover ratio (2.70x vs 2.52x average) and indirect takedown (70.0% vs 67.4%) were comfortably above average.
