- Benchmark Treasury yield dips below 1%; dollar advances
- ​Some investors doubt Fed rate cut alone can prop up growth
Stocks rebounded as investors digested a surprise in the U.S. presidential primary and weighed the potential for more of a concerted effort by the world’s largest economies to tackle the fallout from coronavirus. The dollar advanced.
The S&P 500 rallied back from yesterday’s steep declines after Senator Joe Biden won a majority of state primaries on Super Tuesday, dulling some investors concerns about the possibility of a more liberal candidate challenging President Donald Trump in the fall. At the same time, 10-year Treasury yields fell below 1% and the dollar rose as traders awaited other top economies to follow the Federal Reserve’s emergency rate cut. Oil rose for a third day.
Todd White & Randall Jensen | Bloomberg