[뉴욕증시]Intraday Treasury Bond Rate 1.364% … Stock Market ‘Stuck’ Due to Inflationary Concerns

(Photo = AP / Yonhap News)

[뉴욕=이데일리 김정남 특파원] The New York stock market was mixed. Anticipation of the Corona 19 stimulus package showed a strong trend at the beginning of the market, but was affected by concerns about inflation. The recent stock market is a trend sensitive to rising interest rates.

According to Market Point on the 19th (local time), the Dow Jones 30 Industrial Average on the New York Stock Exchange of the United States closed at 31.1494.32, an increase of 0.98 points from the previous trading day. As for the rate of increase, it was approximately 0.00%. The NASDAQ index, focused on technology stocks, rose 0.07% to 13,874.46. However, the Standard & Poor’s (S&P) 500 Index closed at 3906.71, down 0.19%.

All three indices increased in strength even at the start of the market. This is because Finance Minister Janet Yellen has boosted investor confidence by re-emphasizing the need for stimulus measures. “It’s very important to go ahead with a big package to alleviate (America’s economic) pain,” Yellen said.

The Democratic Party has plans next week to deal with the stimulus currently being discussed. It even emerged that President Joe Biden could push for an additional $ 3 trillion worth of oversized infrastructure measures.

However, as the yield on US Treasuries rose rapidly, the rise in the index slowed. The 10-year US Treasury rate rose to 1.364% during the intraday. The general assessment of the market is that the increase is faster than expected. In particular, this could act as a valuation burden for technology stocks that have risen significantly.

Kiran Ganesh, strategist at UBS Global Asset Management, said: “If interest rates rise further, some investors may witness the change of funds from growth stocks to government bonds.”

Stocks were generally weak this week on inflation concerns. The S&P index fell 0.71% (3,934.83 → 3,906.71). In the case of the NASDAQ index, it fell 1.57% from 11,4095.47 to 13,874.46. The Dow was only up 0.11% (31,458.40 → 31,1494.32).

The Chicago Options Exchange (VIX) volatility index, known as the Wall Street Fear index, fell 1.96% to 22.05.

Stock markets in major European countries jumped up. The FTSE 100 index on the London Stock Exchange in the United Kingdom closed at 6624.02, 0.10% higher than the previous trading day. The DAX30 index on the Frankfurt stock market of Germany was up 0.77% and the CAC40 index on the Paris stock market of France rose 0.79%.