As records fall on Wall Street, investors seek bets on economic growth
Updated : May 02, 2019 06:37 AM IST
After tumbling nearly 20 percent from its peak at the end of 2018, the S&P 500 has rebounded strongly this year as US economic data remain robust and the Federal Reserve has indicated a pause in interest-rate hikes.
Accordingly, fears of a stock market meltdown have given way to talk of a possible melt-up. The S&P 500 has notched record highs in the past three trading sessions.
In March, a brief inversion of the yield curve between three-month Treasury bills and 10-year notes, considered a sign of an impending recession, alarmed investors. The curve has steepened since then and yields have ticked up as US economic data have remained largely upbeat.
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