Feb 24, 2017

The bond market isn't buying Trump hype

Stocks have been on an impressive run since election day, partly as a result of strong earnings, but also on the hope that unified Republican government in Washington will deliver tax and regulatory reform, along with more infrastructure spending. Take a look at the bond market, however, and investors there aren't so optimistic about Republican policies coming to fruition.

Falling bond yields: The yields on 10-year, U.S. government debt are down on Friday, and having fallen more than 5% on the year. That investors are demanding lower returns for lending money today than they were at the start of the year suggests that they are questioning the stock market's optimism toward future growth and inflation. As Dana Emery, CEO of fixed income at Dodge & Cox tells Morningstar Magazine, "it would be a mistake to push aside all the possible missteps [Trump could make] with respect to trade, immigration, and foreign policy . . . particularly China, because those uncertainties could create very dynamic market dislocations."

Go deeper

WHO won't call coronavirus a pandemic as cases spread

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens.

The World Health Organization will not yet call the coronavirus a pandemic, claiming that needs across affected countries are too varied and the classification would increase fear, per a briefing Monday.

The big picture: As South Korea and Italy stepped up emergency measures in efforts to thwart the spread of the virus, WHO expressed concern about infections with no clear link to China. COVID-19 has killed at least 2,620 people and infected almost 80,000 others, with all but 27 deaths occurring in mainland China.

Go deeperArrowUpdated 25 mins ago - Health

The global scramble to contain the coronavirus

Taking precaution, in the Philippines. Photo: Ezra Acayan/Getty Images

The coronavirus is spreading quickly in cities nowhere near Wuhan, China, and the window to prevent a global pandemic is narrowing.

Zoom in: Here's a look at what comes with a coronavirus outbreak in communities outside China that have been hardest hit so far.

Go deeperArrow43 mins ago - World