Fixed markets continue to rally leading to our best rates in months. Apple revised their revenue outlook lower, and it’s never a good sign for a “healthy” economy when one of the largest global companies worsens their expectations. Tomorrow’s job data could lead to more volatility depending on the results. The market is expecting growth of roughly 180k jobs added. Lock in some great rates today!
Stocks are falling hard in the AM after Apple lowered its fiscal first quarter 2019 revenue outlook. Fears of a global grow slowdown are at the forefront of investor psyche, with AAPL now confirming and reinforcing already overhanging anxiety. Apple makes up about 3.4% of the S&P500 index, and about 10% of the Nasdaq. The S&P500 is currently trading at 2,455.62, 2.17% lower.
Treasuries are rallying as market participants careen into the safety of debt. Global equity indices sold off overnight, exacerbating investor appetite for traditional safe-haven allocations. Additionally, the ISM Manufacturing index came in weaker-than-expected for the month of December, notching a 54.1 reading, against expectations of 57.5. The U.S. 10-YR Note is currently trading at 2.5763%, 0.0441 lower.