Stocks, Bonds Get ‘Chillax’ Moment After Rally: Markets Wrap

<p>Wall Street kicked off the week with losses, with both stocks and bonds down in signal that traders’ aggressive pricing of Federal Reserve rate cuts may have gone too far. A raft of key jobs readings over the next few days will be closely watched for clues on the Fed’s next steps, with the potential to rekindle volatility that has recently shown signs of anemia. Technically “overbought” conditions and long positioning have left markets in a more fragile state after the impressive rallies in both Treasuries and equities last month. “We’ve had the great rally and now it’s just kind of a chillax,” Tony Dwyer, chief market strategist at Canaccord Genuity, told Bloomberg Television. “Inflation […]</p>
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