Wall Street slumped on concern that a resurgence in coronavirus cases will derail the comeback for the world's biggest economy. Oil dipped below $US40 a barrel and Treasuries jumped. Financial companies were among the worst performers on the S&P 500 Index as Wells Fargo & Co. prepared to cut thousands of jobs because of the pandemic. The Dow Jones Industrial Average's loss exceeded 1.3 per cent as Boeing Co. dropped. The Nasdaq gauges advanced as big tech stocks rose. The S&P 500 closed 0.6...

LISTEN TO ARTICLE 1:01 SHARE THIS ARTICLE Share Tweet Post Email Photographer: Al Drago/Bloomberg The U.S. two-year Treasury yield fell to a record low not far above zero as economic data revealed more of the damage caused by measures to contain the coronavirus pandemic. The yield declined as much as 4 basis points to 0.1388%. The previous record low, 0.1431%, had been reached in September 2011 amid concern over Europe’s sovereign-debt turmoil and as the U.S. economy struggled to recover from...

LISTEN TO ARTICLE 3:17 SHARE THIS ARTICLE Share Tweet Post Email Photographer: samxmeg/iStockphoto The futures market is again pricing in the possibility of the U.S. joining Europe and Japan with negative rates, catching money managers, traders and analysts off guard. Expectations for the timing of below-zero rates -- as shown by contracts on the Fed funds rate -- shifted to the middle of 2021 after earlier indicating this scenario as soon as December amid dour jobs data that showed the worst...

Photographer: Andrew Harrer/Bloomberg Now that 10-year Treasury yields have sunk to a record, Wall Street analysts see plenty of scope for even lower rates -- possibly much lower, depending on the severity of the economic hit from the coronavirus. The global borrowing benchmark touched 1.3055% Tuesday as investors sought safety in U.S. government debt amid plummeting stocks. The rate breached the previous all-time low set in 2016, and was little changed in early trading Wednesday. Thirty-year...

(Bloomberg) -- Market pricing suggests that a Federal Reserve interest-rate cut could be in the cards as soon as March or April, even though the first quarter-point reduction isn’t being fully priced in until around June. That’s the view of BMO Capital Markets’ Jon Hill and Ben Jeffery, who said that, since the 1980s, front-end markets have almost never priced in cuts to this extent without the Fed following through. And most of the time, that accommodation comes within two months, according...