News Bites
As gold, silver prices tumble, what the 10-year U.S. Treasury note yield is now signaling to markets
(Kitco News) - While the general marketplace remains roiled at midday Friday—evidenced by U.S. stock indexes that have dropped well down from their sharp, limit-up gains early on and tumbling gold and silver prices that are now at multi-month lows--the U.S. Treasury market is indicating the worst of the coronavirus crisis, from a markets perspective, has already been factored into most market prices. The yield on the benchmark 10-year U.S. Treasury note is presently around 0.86%, which is well up from record low below 0.4% seen earlier this week. If indeed the old bond market saying rings true: “The bond market knows and the stock market guys are schmoes,” then the bond market is now telling the marketplace the coronavirus panic has passed its peak, from a markets perspective.