This day in 1896: The Dow Jones Industrial Average is first published. Its 12 initial members are the great industrial giants of the time: American Cotton Oil, American Sugar, American Tobacco, Chicago Gas, Distilling & Cattle Feeding, General Electric, Laclede Gas, National Lead, North American, Tennessee Coal & Iron, U.S. Leather, and U.S. Rubber. The index’s value that day: 40.94.
- he Treasury market's reaction hasn't been more negative. The 10-yr note, which was down 18 ticks shortly after the release, is now down just two ticks and yielding 2.62% (down roughly 40 bps since the end of 2013). We still recommend ca