AIRLINK 62.48 Increased By ▲ 2.05 (3.39%)
BOP 5.36 Increased By ▲ 0.01 (0.19%)
CNERGY 4.58 Decreased By ▼ -0.02 (-0.43%)
DFML 15.50 Increased By ▲ 0.66 (4.45%)
DGKC 66.40 Increased By ▲ 1.60 (2.47%)
FCCL 17.59 Increased By ▲ 0.73 (4.33%)
FFBL 27.70 Increased By ▲ 2.95 (11.92%)
FFL 9.27 Increased By ▲ 0.21 (2.32%)
GGL 10.06 Increased By ▲ 0.10 (1%)
HBL 105.70 Increased By ▲ 1.49 (1.43%)
HUBC 122.30 Increased By ▲ 4.78 (4.07%)
HUMNL 6.60 Increased By ▲ 0.06 (0.92%)
KEL 4.50 Decreased By ▼ -0.05 (-1.1%)
KOSM 4.48 Decreased By ▼ -0.09 (-1.97%)
MLCF 36.20 Increased By ▲ 0.79 (2.23%)
OGDC 122.92 Increased By ▲ 0.53 (0.43%)
PAEL 23.00 Increased By ▲ 1.09 (4.97%)
PIAA 29.34 Increased By ▲ 2.05 (7.51%)
PIBTL 5.80 Decreased By ▼ -0.14 (-2.36%)
PPL 107.50 Increased By ▲ 0.13 (0.12%)
PRL 27.25 Increased By ▲ 0.74 (2.79%)
PTC 18.07 Increased By ▲ 1.97 (12.24%)
SEARL 53.00 Decreased By ▼ -0.63 (-1.17%)
SNGP 63.21 Increased By ▲ 2.01 (3.28%)
SSGC 10.80 Increased By ▲ 0.05 (0.47%)
TELE 9.20 Increased By ▲ 0.71 (8.36%)
TPLP 11.44 Increased By ▲ 0.86 (8.13%)
TRG 70.86 Increased By ▲ 0.95 (1.36%)
UNITY 23.62 Increased By ▲ 0.11 (0.47%)
WTL 1.28 No Change ▼ 0.00 (0%)
BR100 6,944 Increased By 65.8 (0.96%)
BR30 22,827 Increased By 258.6 (1.15%)
KSE100 67,142 Increased By 594.3 (0.89%)
KSE30 22,090 Increased By 175.1 (0.8%)

NEW YORK: US Treasury yields were mostly lower on Monday after a mass shooting in Las Vegas and political uncertainty in Europe caused by a Spanish referendum prompted investors to seek the safety of bonds.

However, yields briefly edged higher after upbeat data on US manufacturing and construction spending, adding to a growing view that the US Federal Reserve could raise interest rates one more time before the end of the year.

Still, the overall market sentiment remained cautious.

"Treasuries are giving up some earlier gains on the releases, but the markets are trading mainly on the political headlines rather than the data," said rates strategist Aaron Kohli of BMO Capital Markets in New York.

Analysts said last week's optimism about US President Donald Trump's tax plan had also faded.

"The focus is off tax reform at the moment given the political uncertainty with the Spanish referendum and the unfortunate tragedy in Las Vegas," said interest rates strategist Gennadiy Goldberg of TD Securities in New York.

Violence erupted in Catalonia after its regional leader opened the door to a unilateral declaration of independence from Spain on Sunday as voters defied a police crackdown. According to regional officials, Catalonia voted 90 percent in favor of breaking away in a referendum that the Spanish government later declared illegal.

In the United States, some 50 people died and more than 400 were hurt when a 64-year-old gunman with an arsenal of at least 10 rifles fired on a Las Vegas country music festival on Sunday, raining down bullets from a 32nd-floor window for several minutes before killing himself.

The death toll, which police emphasized was preliminary, would make the mass shooting the deadliest in US history.

Political tension overshadowed strong US economic data.

The Institute for Supply Management index was at 60.8 in September, exceeding August's level of 58.8 and expectations for a reading of 58. The components of the index showed gains across the board.

US construction spending rebounded in August after two straight months of declines, boosted by increases in both private and public outlays. Construction spending rose 0.5 percent to $1.21 trillion.

In mid-morning trading, the benchmark 10-year US Treasury note yield was 2.324 percent, down from 2.326 percent from late on Friday, while the 30-year yield fell to 2.846 percent from 2.858 percent.

Copyright Reuters, 2017

Comments

Comments are closed.