Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  News  >  Economy & Forex  >  All News

News : Economy & Forex

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors 
All NewsEconomyCurrencies / ForexCryptocurrenciesEconomic EventsPress releases

BOND REPORT : Treasury Yields Inch Higher As Wall Street Awaits Senate Tax-bill Details

share with twitter share with LinkedIn share with facebook
share via e-mail
0
11/09/2017 | 02:27pm CEST

By Mark DeCambre, MarketWatch

U.S. Treasury yields edged slightly higher on Thursday, but moves were muted, as investors awaited details on a tax plan by Senate Republicans later in the session, which could influence fixed-income investing.

What are yields doing?

The 10-year Treasury note yield inched up to 2.332%, compared with 2.325% late Wednesday in New York. The 2-year note yield rose to 1.658%, versus 1.645%, its highest yield since October 2008. The 30-year bond yield climbed to 2.810%, compared with 2.786%.

Bond prices and yields move in the opposite direction.

What's driving Treasurys?

Senate Republicans are expected to unveil a tax plan that diverges from that of House Republicans by not fully repealing the estate tax .

Treasury traders are worried that tax cuts could increase the deficit and result in a boost to new issuance, which would be bearish for bond prices, pushing yields higher.

According to an estimate by the Congressional Budget Office, the tax bill written by House Republicans would boost the U.S. deficit by $300 billion more than lawmakers estimated. Over a decade, it would increase the deficit by $1.7 billion, beyond the $1.5 trillion required to meet Senate rules under the recently passed budget, the CBO said.

However, according to some reports, the Senate's plan may not include a 20% excise tax on imports by multinational companies and could delay the implementation of corporate tax cuts until 2019 to shrink the estimated budget deficit.

Separately, Fed. Gov. Jerome Powell, who has been nominated by President Donald Trump to replace outgoing Janet Yellen as the head of the Federal Reserve, will have a confirmation hearing on Nov. 28.

What data are ahead?

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news "Economy & Forex"
10:33pUSCIB UNITED STATES COUNCIL FOR INTERNATIONAL BU : Statement on U.S. Withdrawal From the UN Human Rights Council
PU
10:28pCALIFORNIA POULTRY FEDERATION : Farmers protest Pruitt’s ethanol policies
PU
10:28pCALIFORNIA POULTRY FEDERATION : Next move is Trump’s after China hits back in trade-war opener
PU
10:28pCALIFORNIA POULTRY FEDERATION : Striving to improve poultry farming’s image
PU
10:28pFLORIDA FARM BUREAU : Summer Agriculture Fun
PU
10:28pCITY OF PALO ALTO CA : Forms & Applications
PU
10:28pGOP, Democratic Senators Decry 'Serious Flaws' in Execution of Trump Trade Policy
DJ
10:24pIndustrials Flat as Tariff Tensions Persist -- Industrials Roundup
DJ
10:23pFOUR SEASONS HOTELS : Hotel London at Park Lane Brings a Taste of the French Riviera to the Heart of Mayfair This Summer with L’Azur
PU
10:19pMaterials Down Amid Trepidation On Global Trade -- Materials Roundup
DJ
Latest news "Economy & Forex"
Advertisement