Probably nothing...
The last two times the spread between 30Y and 5Y Treasury bonds was below 90bps, the US economy entered recession...
And the 2s10s curve is tumbling too - to its flattest since the crisis...
But, but, but, how can a recession be coming with stocks are record highs?
Despite repeated denials from Bob Weinstein and the Weinstein Company Board that the Hollywood studio was exploring a sale or shutdown after former executive Harvey Weinstein's 30-year history of using his position to harass and assault actresses was exposed, the Weinstein Company revealed that it's negotiating a sale of "all or a significant portion of" its major assets to Colony Capital, the private-equity arm of investment firm Colony NorthStar Inc.
Nordstrom shares are tumbling uin the pre-open (down over 5% to 3-month lows) as the company temporarily suspends its explorations for going-private, citing "difficulties in obtaining debt financing."
As Bloomberg reports, Nordstrom family plans to continue efforts after holiday season with management set to maintain focus on execution of business plan for year-end period.
And the result is the erasure of all post-rumor-gains and then some...
World stocks and commodities rose on Monday, boosted by upbeat Chinese data, while U.S. oil futures jumped to a near six-month high as escalating tensions between the Iraqi government and Kurdish forces threatened supply. Global markets digested the large amount of weekend newsflow, and clearly liked what they saw as S&P futures were modestly in the green, as both European and Asian stocks are higher.