Global Meltdown: Investors Are Dumping Nearly EverythingBy: Patti DommCNBC Sep. 22, 2011 |
Israel Working to Move Palestinians to Spain, Ireland, Norway and Canada - Defense Minister
Netanyahu Gave Trump Golden Pager as a 'Gift'
Trump Appointee: Palestinians Are 'Fundamentally Evil,' 'Collectively Guilty' And 'Not Worthy of Mercy'
Trump Proposes U.S. 'Take Over' Gaza and Clean Up Israel's Mess
U.S. Govt to Give 'Minority' Status to Jewish-Owned Businesses, Conferring 'Billions' in Benefits
![]() ![]() Treasury yields , as a result, slipped to historic lows with the 10-year yielding 1.75 percent and the 30-year at 2.86 percent. The dollar was also a beneficiary of a massive fear trade that sent U.S. stocks sharply lower, on the heels of steep sell-offs in equities markets around the globe. The worst performing stock market sectors mirrored the sell-off in global commodities markets, with materials down 4.6 percent and energy stocks down 4.1 percent. Copper, hit by concerns of a Chinese slowdown, tumbled 7 percent to a 1-year low. Gold, usually a safety play, was sold into the maelstrom as investors raised cash. The euro [ EUR=X 1.3486 -0.0091 (-0.67%) ], broke below 1.35, a recent bottom of its range. It was trading in the 1.346 area, an eight-month low against the dollar. The dollar index [ .DXY 78.35 +1.00 (+1.30%) ] was 1.4 percent higher. "People are finding it really isn't gold. It isn't precious metals. It's not currencies. U.S. Treasurys are where people are flocking to at a time of extreme concern about risk, and we continue to see Treasurys continue to get bid up," said Zane Brown, fixed income strategist at Lord Abbett. Read More |