Stock futures opened slightly higher Tuesday evening after sliding during the regular session, as investors weighed optimism over widespread post-pandemic business reopenings against concerns over economic overheating.
Stocks opened slightly higher Tuesday morning as the major indexes steadied after rallying a day earlier.
The yield on the benchmark 10-year Treasury note is in a long-term trend lower and, with financial markets awash in cash, it could zigzag down to -0.5% a year from now, even if it drifts up from current levels, according to Guggenheim Investments. In a research note published on Tuesday, Guggenheim Global Chief Investment Officer Scott Minerd said using sine regression analysis of 10-year rates since the 1980s, yields were seen potentially bottoming at -0.5% by early 2022, bounded by a two-standard deviation range of 1.0% and low of -2.0%. "As stimulus payments and tax refunds are distributed and more money looks to be put to work, investors will extend maturities on their bond portfolios in a 'reach for yield'," he wrote.