The S&P 500 has gained 24% since April 1, but U.S. Treasuries have been almost entirely unmoved.
Why it matters: Since the Fed announced its QE4ever program (also known as QEinfinity) on March 23, the U.S. Treasury market has been effectively corralled.
Details: After moving from 1.88% on Jan. 2 to 0.62% on April 1, pricing in expected economic deterioration, the yield on the benchmark 10-year Treasury note has not closed above 0.77% or below 0.61% since.
Illustration: Sarah Grillo/Axios
A fresh Joe Biden ad, "New Start," signals an effort by his campaign to make unity a central theme, underscoring a new passage in his stump speech that says he won't be a president just for Democrats but for all Americans.
What he's saying: The ad — which began Friday night, and is a follow-up to "Fresh Start" — draws from a Biden speech earlier in the week in Manitowoc, Wisconsin:
Judge Amy Coney Barrett. Photo: Matt Cashore/Notre Dame University via Reuters
President Trump is preparing to nominate federal appeals court Judge Amy Coney Barrett of Indiana, a favorite of both the social conservative base and Republican elected officials, to succeed Justice Ruth Bader Ginsburg, Republican sources tell Axios.
Why it matters: Barrett would push the already conservative court further and harder to the right, for decades to come, on the most important issues in American politics — from abortion to the limits of presidential power. If confirmed, she would give conservatives a 6-3 majority on the high court.