Stocks rebounded on Thursday as crude prices climbed. The market had gotten off to a wobbly start, as investors juggled a bleak report on new-home sales with the unexpected drop in jobless claims and GM's deal with bondholders. Here's what the experts had to say...
A sharp jump in 10-year Treasury yields scared stock-market watchers, even as the auction of new 5-year notes was well received. And mortgage rates, especially the 30-year fixed rate, ticked higher. Art Cashin, UBS Financial Services director of floor operations, offered CNBC his market insights.
Futures budged upwards after a mixed bag of economic reports at 8:30am ET... Weekly jobless claims came in essentially inline with estimates. Continuing claims continued to hit record highs... April durable goods rose 1.9 percent, far exceeding economist forecasts for a 0.5 percent rise.
We saw the Treasury market sell-off accelerate Wednesday, because the duration of the interest rate sensitivity of the mortgage market has been lengthening, said Paul McCulley, portfolio manager and managing director at Pimco.
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Richard Jerram, Chief Economist at the Bank of Singapore, explains the factors that led Japan to post a disappointing 1.8 percent annual rise in March exports.
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