The Closing Look

Stocks fell on Friday across the globe after global government bond yields fell to fresh record lows. The German 10-year bund yield plunged to a fresh record low of 0.011% Friday morning which was down considerably from Monday’s level near 0.070%. The Japanese 10-year yield hit a record negative low of minus 0.13% and several other important government bond yields also plunged. Friday was the first real day of selling we have seen in weeks. The FOMC meets on Wednesday and then the following week is the brexit vote. The fun doesn’t stop.

Gary’s Thoughts: Yuck…