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S&P suspends forecast, warns of 'extraordinarily weak' bond market

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Yahoo Finance Live anchors discuss a note from S&P Global that suspended its full-year forecast for the bond market.

Video Transcript

BRIAN SOZZI: Welcome back to Yahoo Finance Live. And we're just a few minutes away from that opening bell on Wall Street. And we're seeing futures green across the board. Dow Futures up more than 200 points. But Brad, I really have to first give a shout-out to senior markets editor Myles Udland. Myles has a story on this on the Yahoo Finance home page right now. S&P Global getting absolutely destroyed here premarket. The company is noting an extraordinarily weak bond market, talking about how macroeconomic conditions have deteriorated.

You're not seeing a lot of companies come out here and issue debt. You're seeing Moody's shares, S&P Global rival, trade down in sympathy here in the premarket. But very alarming note here from S&P Global, pulling their full-year forecast. Of course it has implications for the banks.

BRAD SMITH: You know, one of the interesting things that we're going to be continuing to track, even as we get some economic data in the form of the JOLTS survey-- that's going to be dropping 10:00 AM, so stay with us for that data once it crosses. But as we continue to think about and discuss inflation as well, there's this larger question of when some of the supply chain concerns will actually alleviate the inflationary pressures as well. And we're seeing some of that movement even in front of our eyes.

Apple, one of those companies that's moving some of their supply chain where possible to Vietnam, I believe, for the iPad, specifically, and that particularly might be a theme that we hear among some of the consumer tech companies. I know we've got that conversation that you had with HP as well, discussing inflation, as well as supply chain, too.

BRIAN SOZZI: Yeah, no. Inflation top of mind. You have S&P Global yield. I think a quasi-warning about the inflation outlook with their own warning. But still, you got a couple of SPACs no longer. No longer have SeatGeek. You had Forbes getting pulled. So market conditions, you might see a rally here in the premarket, but, still, a lot of negative crosscurrents out there.