(Bloomberg) -- Big banks extended losses into a fourth day Friday, as 10-year Treasury yields tumbled, the 3-month/10-year yield curve inverted for the first time since 2007, U.S. manufacturing data missed expectations and Europe's economic outlook darkened.
Jerome Powell's Federal Reserve has long pivoted back to being super dovish. The 10-year yield has dived to about 2.6%. And markets have since been lulled into seemingly churning upward each day to reach the fall 2018 highs, absent the daily swings that traders at the investment banks crave. Hey, they have to get paid people.