Daily Note | April 30, 2024 | ASA Adopts Rights Offering To Fend Off Saba

Stocks are in the red following a 'hot' employment cost index report, a measure of wages and benefits. That index came in at +1.2% in the first quarter, higher than the +1.0% expected.

Markets are now pricing in just one cut for the year. Rates are up this morning which is applying that pressure to the markets. The 10-year yield is at 4.65% as of this wr…