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 : Treasurys Follow Selloff In European Bonds As Economic Data Higher-than-expected

share with twitter share with LinkedIn share with facebook
share via e-mail
0
11/10/2017 | 03:02pm CEST

By Sunny Oh

10-year Treasury yield edges back toward 2.40%

Treasury prices fell, pulling yields higher, on Friday, taking a cue from a selloff in European government paper after data showed the eurozone's economic recovery continues apace.

What are Treasury yields doing?

The 10-year Treasury note yield traded at 2.376%, up from 2.333% late Thursday. The 2-year note yield rose to 1.650% versus 1.633%. Meanwhile, the 30-year bond yield rose to 2.861%, from 2.808%.

What's driving the market?

Strong economic data out of the eurozone underlined the currency bloc's continued recovery. That could mean the European Central Bank would be more aggressive in winding down its monetary stimulus program, which is due to be scaled back beginning in 2018.

Investors are also watching the progress of legislation to overhaul the U.S. tax code amid differences between the bills proposed by the House Republicans and their Senate counterparts .

What do market participants say?

"The curve flattening move that took place over the last 8 days is being unwound in massive way. Many fear of more downside in prices as Euro-Govies are on uneasy footing as our U.S. Treasurys at the moment," said Tom di Galoma, managing director of Treasurys trading at Seaport Global Securities, referring to the selloff seen in European sovereign bonds.

The so-called yield curve, which traces maturities against respective bond yields, has flattened in the past two weeks on concerns that the Federal Reserve would raise rates against a backdrop of tepid inflation.

What else is on investors' radar?

The University of Michigan will release its consumer sentiment index at 10 a.m. Eastern.

What other assets are on the move?

European sovereign debt yields headed higher after a solid raft of economic data. French industrial production rose 0.6% in September, slightly higher than the 0.5% consensus estimate.

The yield for the 10-year German government bond, or bunds, rose 4.9 basis points to 0.377%, while the 10-year French government bond yield rose 6.1 basis point to 0.754%

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news "Economy & Forex"
07:01aWISEKEY INTERNATIONAL : allows Connected Electric Cars to Pay with WISeCoin Cryptocurrencies at Autonomous Electric Charging Stations
GL
07:01aWISEKEY INTERNATIONAL : allows Connected Electric Cars to Pay with WISeCoin Cryptocurrencies at Autonomous Electric Charging Stations
AQ
06:58aNIOC NATIONAL IRANIAN OIL : Iran will veto output grow when OPEC meets
PU
06:55aTrump ratchets up China trade conflict with fresh tariff threat
RE
06:55aChina says will 'fight back firmly' if U.S. publishes additional tariffs
RE
06:54aTrump ratchets up China trade conflict with fresh tariff threat
RE
06:45aTrade Fears Send Shiver Through Asian Markets
DJ
06:33aPCA PROPERTY COUNCIL OF AUSTRALIA : Economic diversification, urban amenity vital for Perth's high liveability status in post-commodity
PU
06:23aADF AUSTRALIAN DAIRY FARMERS : welcomes new Dairy Australia managing director
PU
06:16aNEWS HIGHLIGHTS : Top Financial Services News of the Day
DJ
Latest news "Economy & Forex"
Advertisement