No Mueller market bounce | Apple's reinvention | Avenatti arrested

There was a time when a no collusion verdict from Mueller would have ripped the stock market higher.

VIEW IN BROWSER | SUBSCRIBE MON, MAR 25, 2019 EVENING BRIEF AS OF MON, MAR 25, 2019 • 04:03 ET DJIA 25516.83 +0.06% +14.51 S&P 500 2798.34 -0.08% -2.37 NASDAQ 7637.54 -0.07% -5.13   Most Active DOW NAME LAST CHG %CHG AAPL 188.74 -2.31 -1.21% MSFT 117.66 +0.61 +0.52% JPM 98.93 -0.83 -0.83% S&P 500 NAME LAST CHG %CHG AMD 25.97 -0.40 -1.52% BAC 26.84 -0.17 -0.63% GE 9.88 -0.10 -1.00% NASDAQ NAME LAST CHG %CHG AMD 25.97 -0.40 -1.52% AAPL 188.74 -2.31 -1.21% SIRI 5.75 -0.01 -0.17% EDITOR'S NOTE Why didn't the stock market rip higher after the Mueller report showed President Trump did not collude with Russia? The main reason is because the investigation had dragged on for so long, it kind of fell off  Wall Street's radar. Investors we spoke with felt that if Mueller was going to surface something really damning, they would have known it by now. Instead, fears of a global economic slowdown have taken over. Check out this chart of different benchmark bond yields from around the world:  A gravitational pull is happening here. German and Japan benchmark bond yields are back in negative territory, and the 10-year yield is being dragged lower by that same force. The global bond market is telling us something is wrong. The U.S. bond market specifically, with its inversion of the 3-month and 10-year yields, is also telling us something is not right. It's all reminiscent of behavior during the Great Recession, except this time global central banks have used most of their bullets. If there really is a global economic slowdown again, investors may need to navigate it without the help of the Federal Reserve. In fact, the more the central bank says it will help (like last week), the more it may hurt confidence. Morgan Stanley told clients today to stick with staples and utilities, which should benefit from lower rates and have a track record of steady cash flow during tough economic times. John Melloy | CNBC Investing Editor @JohnMelloy   TOP NEWS  Here's everything Apple announced on Monday Stormy Daniels' ex-lawyer Michael Avenatti arrested for alleged $20 million extortion scheme against Nike, embezzling client's money, defrauding bank Apple unveils new no-fee credit card: The Apple Card Wall Street divided as post-Mueller optimism battles global growth fears 'Yes he did': Trump says Mueller 'acted honorably' Special counsel Robert Mueller scores a win in mystery fight at Supreme Court days after completing probe Airlines warn of cancellations as Boeing readies 737 Max software fix The US bond yield curve has inverted. Here's what it means Trump's victory in the Mueller probe could make him take a tougher stand in China talks With rumors of a Brexit coup, Theresa May's leadership looks 'extremely fragile'   CNBC PRO Full interview with top Apple analyst on event     TOP VIDEO Here's how the Mueller report played out over its nearly two-year lifespan   SPECIAL REPORTS Here's what Warren Buffett thinks about climate change How to trade the homebuilder ETFs   Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2019 CNBC LLC. All rights reserved. A property of NBC Universal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS