Investors prepare for more market swings as coronavirus spreads in US
Business StandardThe White House on Saturday said it would extend a travel ban to include the United Kingdom and Ireland, a move that could further hurt oil prices and airlines With one of Wall Street's wildest weeks in recent memory now in the history books, investors are bracing for more uncertainty and big market swings ahead. "Right now, we view investing in the current environment using the hackneyed phrase of 'catching a falling knife,'" said Richard Bernstein, chief executive of Richard Bernstein Advisors in a note to investors and conference call. Bernstein said the rush into US government bonds sparked by recent market swings has overstretched the prices of Treasuries, which now sport yields near record lows. "This infers that institutional investors are causing the market volatility rather than retail investors," the firm said in a report.
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