Dow Notches Another Record as Bond Yields Fall

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The Dow notched another record on Monday, but the so-called yield curve inverted for the first time since September.

The S&P 500 also rose, extending its winning streak to six trading days. The market benchmark closed up 0.3%, moving within striking distance of its highest close on record. The Dow, which had already reached a record on Friday, repeated that. It rose 440 points, or 1%. The Nasdaq Composite was up 0.3%.

After President-elect Donald Trump named Wall Street veteran Scott Bessent his pick for Treasury secretary, Treasury yields pulled back, especially longer-term ones. The yield on the 30-year note was down to 4.446%, while the 10-year yield was down to 4.262%.

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