Monday, April 19, 2010
Midday Briefing for April 19th: Continued Risk Aversion
Although major indexes have traded below Friday's lows thus far today, we're seeing bank stocks ($BKX, above) holding above those lows. We're also seeing relative strength from the most risk-averse stock sectors: health care and consumer staples shares. Meanwhile, oil and gold have been trading lower, Treasury yields are below Friday's levels, and USD is up vs. euro and Aussie dollar. All in all, we're seeing continued risk-sensitivity in the wake of concerns re: allegations of fraud at major banks.