The stock rout continued yesterday as diving bond yields raised more concern that the global economy is slowing significantly because of the spreading coronavirus. The 10-year Treasury bond yield hit all-time record low of 1.3%.
The housing market heated up at the end of 2019, and that was reflected in growing gains in home values. In December, home prices rose 3.8% annually on the S&P CoreLogic Case-Shiller National Home Price Index. That is up from the 3.5% gain in November. The 20-city composite rose 2.9%, up from 2.5% in the previous month. Leading the list of cities with the largest gains were Phoenix, Charlotte and Tampa.
According to the Conference Board, consumer confidence rose less than expected in February as people’s assessment of current conditions wavered. The consumer confidence index came in at 130.7, up from 130.4 in January.
Shares of Home Depot fell following early gains in yesterday’s trading session after the world’s largest home-improvement retailer beat fourth-quarter earnings and revenue expectations and hiked their dividend by 10%.
With Northwest Quadrant Wealth Management, I’m Tyler Simones