Investors can take a breath next week after kicking off the month with strong gains, as Treasury yields tumbled from their highs.
Stocks will try to maintain their upward momentum next week after a strong start to November, with Treasury yields falling from their highs and investors betting the Federal Reserve may well be done raising interest rates. Investors kicked off the month with sizable gains. All three major averages are higher in November, and the S & P 500 and Nasdaq Composite are on pace for their best week in a year.
Treasury auctions, Fed speakers on docket One notable event is the Treasury Department's plans to auction $112 billion in debt next week, as it secures financing for government obligations, including ballooning costs to service the debt. The Treasury is seeking to refund $102.2 billion of notes set to mature Nov. 15 and raise more than $9 billion in additional funds. "Bond yields are the primary concern for investors and what drives bond yields are supply and demand," Stovall said.
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