: Turmoil in the Bond Market Rocks Stocks, and When the Safety Trade Breaks Down 10/3/23

CNBC's "Fast Money"

CNBC

News, Investing, Business

3.9 • 1.3K Ratings

🗓️ 3 October 2023

⏱️ 45 minutes

🔗️ Recording | iTunes | RSS

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Summary

Stocks sold off Tuesday as 10- and 30-year treasurys hit their highest level in over 16 years. With the Dow going negative for the year, and the S&P closing in on its 200-day moving average, how much more pain is in store for stocks? Plus Staples and Utilities are traditionally the safest sectors in the market, but they’ve been dropping recently and the Chart Master says there’s more pain to come. Fast Money Disclaimer

Transcript

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0:00.0	Life in the Nasak markets I did in the heart of New York City's Times Square, this is fast
0:05.4	money.
0:06.4	Here's what's on tap tonight.
0:07.4	Bonds in turmoil, the 30-year yield roaring higher within a whisper of 5% to 2 and 10
0:12.8	year rates, surging higher to, could China and the Fed beat a blame for what is happening
0:17.5	with the bond market?
0:18.5	Plus, sticker shock reports that Netflix is planning to hike prices once a Hollywood
0:22.6	strikes or over.
0:23.6	Could this set off a wave of price spikes across the streaming universe?
0:27.4	And later, the breakdown on the safety trade, weighty losses of late Lily and a rocket
0:32.9	headed in the wrong direction.
0:34.8	I'm Melissa Lee, coming to you live from studio B at the Nasak on the desk tonight,
0:38.3	Tim Seymour, Karen Feynman, Dan Nathan and Mike Co.
0:41.0	We start off with breaking news out of DC in the vote to remove Kevin McCarthy as speaker
0:45.6	of the House.
0:46.6	Emily Wilkins is in DC with the very latest, Emily.
0:49.6	Well, yes, in a historic vote today, Kevin McCarthy was ousted as speaker of the House,
0:56.2	that House currently has no speaker.
0:58.1	That chair is vacant.
0:59.1	There is an acting speaker, but they're not someone who can actually move legislation,
1:03.2	continue the work of the House, and continue the progress that Congress is trying to
1:06.5	make on a number of different bills.
	...

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