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.

icon-oneThe ‘supercore’ inflation measure shows Fed may have areal problem on its hands.
icon-twoOil prices could see ‘super spike well above $100’ if conflict escalates after Iran’s attack on Israel.
icon-threeStub Hub eyes summer IPO seeks $16.5 billion valuation.
icon-fourJapan’s yen falls to lowest since 1990, dollar / yen up 0.6%.
icon-fiveSamsung boosts Joe Biden’s chipmaking ambitions with Texas plant upgrade.


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%↓


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%↑
Data and Content as of Previous Closing Day. Source: MarketWatch


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 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.

Latest Update: Apr 17, 2024