DBI Today: 48.1 (+0.4)
The US Treasury did something markets had been begging for: it said it would at least double the pace at which it buys back long-term government debt, and bond yields — the return investors demand for lending to governments — fell sharply in response. That single move calmed nerves enough to pull the S&P 500 out of a three-day slide. But the relief was strictly local. Overnight, a fresh sell-off in semiconductor stocks tore through Tokyo, Seoul and Shanghai, and oil kept grinding higher on an unresolved Iran standoff. The DBI nudged up to 48.1, still just below the neutral line of 50 — a day of one step forward, one step sideways.
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