Wall Street battened down the hatches to wait out Superstorm Sandy, which was downgraded from a hurricane late Monday, marking its first rain check in 27 years. The exchanges won’t reopen until Wednesday at the earliest.
The bond market did hold a morning session today. And prices rose, sending the yield on the 10-year T-note down to 1.72 percent.
Here are some Superstorm Sandy numbers: More than 7,000 commercial flights in the U.S. were canceled for today alone. United took top honors with more than 850 canceled flights. That was according to the tracking site FlightAware.com.
And if you tried calling United for flight information, you had to wait 40 minutes to speak to an agent. (Monica finally picked up for us.)
About 700,000 people along the eastern seaboard had lost electricity by mid-afternoon. One New Jersey electric utility had recruited 950 extra line workers and 526 tree contractors to help prepare for the storm.