Fixed Income Market Overview
Monday witnessed a surge in Treasury yields spurred by a robust retail sales report and escalating geopolitical tensions. The 10-year Treasury yield climbed to 4.61%, while the 2-year Treasury yield rose by almost 8 basis points to 4.957%. This unexpected increase in March retail sales, surpassing forecasts, reflects resilient consumer spending amid persistent inflationary pressures. Meanwhile, market attention turned to the Middle East, as Iran’s actions against Israel heightened concerns. Following last week’s inflation data, traders now anticipate the first rate cut to occur in July or September, diverging from previous expectations of June, according to CME Group’s FedWatch tool.





Major Indicies
Symbol | Price | Change | %Change |
---|---|---|---|
DJIA | 37,735.11 | -248.13 | -0.65%↓ |
NASDAQ | 17,706.83 | -296.66 | -1.65%↓ |
SNP 500 | 5,061.82 | -61.59 | -1.20%↓ |
NIKKEI | 39,232.80 | -290.75 | -0.74%↓ |
VIX | 19.23 | 1.92 | 11.09%↑ |
HIS | 16,600.46 | -121.23 | -0.72%↓ |
Bonds
Name | Yeild | CHG |
---|---|---|
US 10-YR | 4.61% | 0.08 |
US 30-YR | 4.72% | 0.09 |
US 5-YR | 4.63% | 0.06 |
JPN 10-YR | 0.87% | 0.00 |
UK 10-YR | 4.24% | 0.10 |
Futures & Commodities
Name | Last | Change | %Change |
---|---|---|---|
WTI CRUDE | 85.41 | -0.25 | -0.29%↓ |
NAT GAS | 1.691 | -0.079 | -4.46%↓ |
GOLD | 2,383.00 | 8.90 | 0.37%↑ |
SILVER | 28.72 | 0.39 | 1.37%↑ |
COPPER | 4.379 | 0.121 | 2.83%↑ |
Equity Market Overview
Goldman Sachs
Goldman Sachs Group Inc. exceeded expectations with a 28% increase in first-quarter net income, driven by robust trading and investment banking activity. The bank’s back-to-basics strategy, focusing on its core Wall Street businesses and a more predictable approach in money management, proved successful after a challenging period marked by a failed retail-banking push in 2023. The return-on-equity for the quarter doubled from the previous year to 14.8%, aligning with longer-term targets. Net income stood at $4.13 billion, with shares rising 5.1% to $409.21. Fixed-income traders delivered strong revenue of $4.32 billion, surpassing expectations, while investment banking revenue of $2.08 billion exceeded estimates, led by merger advisory fees. The asset- and wealth-management business posted an 18% revenue increase, with management fees climbing 7%. However, the Platform Solutions unit reported a pre-tax loss of $117 million, holding the consumer credit card partnerships and transaction banking business.
Tesla
Tesla CEO Elon Musk announced in a memo to employees that the company will reduce its global workforce by more than 10% as part of cost reduction efforts and to increase productivity. This decision comes amid challenges for Tesla, including a decline in vehicle deliveries, increased competition in the electric vehicle market, and operational disruptions. Tesla’s shares fell 3% following the announcement. Musk has acknowledged China’s potential as a strong competitor and concerns about the company’s operating margin, which declined to 8.2% in the fourth quarter. The company faces logistical challenges, such as supply chain disruptions and production interruptions. Tesla is set to report its first-quarter financial results on April 23.