GE, Energy Shares Drag Wall Street Lower; Bond Proxies Rise
- 6 years ago
GE, Energy Shares Drag Wall Street Lower; Bond Proxies Rise
NEW YORK — U. S. stock indexes fell on Tuesday as General Electric shares plunged
for a second straight day and a drop in crude oil prices hit energy stocks.
Stocks favored by investors seeking yield, the so-called bond proxies, were the best performers as the yield curve, or the gap between short-
and long-term U. S. government bond yields, remained near its flattest in a decade.
Paul Zemsky said that People are looking for yield across the globe so potentially there’s foreign flows going into bond proxies,
NEW YORK — U. S. stock indexes fell on Tuesday as General Electric shares plunged
for a second straight day and a drop in crude oil prices hit energy stocks.
Stocks favored by investors seeking yield, the so-called bond proxies, were the best performers as the yield curve, or the gap between short-
and long-term U. S. government bond yields, remained near its flattest in a decade.
Paul Zemsky said that People are looking for yield across the globe so potentially there’s foreign flows going into bond proxies,