Market Extra: Buy bonds, buy stocks, sell risk, blame the Fed

It’s happening—again. Stocks are rallying to records and government bond prices are rising, pushing yields toward the lows.

At last check, the benchmark U.S. 10-year TMUBMUSD10Y, -1.04% was down 1.8 basis point at 1.63% Thursday, after hitting a two-week low of 1.61% earlier in the day. Bond prices and yields move in the opposite direction.

Check out: Why stocks and bond yields aren’t moving in tandem

Meanwhile, so-called risk assets, like equities, are storming higher, with the Nasdaq Composite Index COMP, +0.80% set to carve out a fresh record Thursday and shares of Amazon Inc. AMZN, +1.67% touching a record intraday trading high after the Federal Reserve surprised no one Wednesday by holding off on hiking benchmark interest rates for at least another few months.

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