AIRLINK 74.00 Decreased By ▼ -0.25 (-0.34%)
BOP 5.14 Increased By ▲ 0.09 (1.78%)
CNERGY 4.55 Increased By ▲ 0.13 (2.94%)
DFML 37.15 Increased By ▲ 1.31 (3.66%)
DGKC 89.90 Increased By ▲ 1.90 (2.16%)
FCCL 22.40 Increased By ▲ 0.20 (0.9%)
FFBL 33.03 Increased By ▲ 0.31 (0.95%)
FFL 9.75 Decreased By ▼ -0.04 (-0.41%)
GGL 10.75 Decreased By ▼ -0.05 (-0.46%)
HBL 115.50 Decreased By ▼ -0.40 (-0.35%)
HUBC 137.10 Increased By ▲ 1.26 (0.93%)
HUMNL 9.95 Increased By ▲ 0.11 (1.12%)
KEL 4.60 Decreased By ▼ -0.01 (-0.22%)
KOSM 4.83 Increased By ▲ 0.17 (3.65%)
MLCF 39.75 Decreased By ▼ -0.13 (-0.33%)
OGDC 138.20 Increased By ▲ 0.30 (0.22%)
PAEL 27.00 Increased By ▲ 0.57 (2.16%)
PIAA 24.24 Decreased By ▼ -2.04 (-7.76%)
PIBTL 6.74 Decreased By ▼ -0.02 (-0.3%)
PPL 123.62 Increased By ▲ 0.72 (0.59%)
PRL 27.40 Increased By ▲ 0.71 (2.66%)
PTC 13.90 Decreased By ▼ -0.10 (-0.71%)
SEARL 61.75 Increased By ▲ 3.05 (5.2%)
SNGP 70.15 Decreased By ▼ -0.25 (-0.36%)
SSGC 10.52 Increased By ▲ 0.16 (1.54%)
TELE 8.57 Increased By ▲ 0.01 (0.12%)
TPLP 11.10 Decreased By ▼ -0.28 (-2.46%)
TRG 64.02 Decreased By ▼ -0.21 (-0.33%)
UNITY 26.76 Increased By ▲ 0.71 (2.73%)
WTL 1.38 No Change ▼ 0.00 (0%)
BR100 7,874 Increased By 36.2 (0.46%)
BR30 25,596 Increased By 136 (0.53%)
KSE100 75,342 Increased By 411.7 (0.55%)
KSE30 24,214 Increased By 68.6 (0.28%)

US Treasury yields dropped on Monday after New York manufacturing data disappointed and on concerns that Greece might default on loans and be ejected from the European currency after talks between the nation and its creditors collapsed. Manufacturing in New York State slowed in June, dropping to its weakest level in more than two years as new orders fell, according to a New York Federal Reserve survey.
The New York Fed's Empire State general business conditions index fell to its lowest level since January 2013. "Even though Empire is lower-tier (data), considering it is one of the first June releases, it has some importance," said Thomas Simons, a money market economist at Jefferies in New York.
US industrial production also fell unexpectedly in May, bucking signs of an acceleration in the broader economy, as a strong dollar and energy spending cuts continued to weigh on manufacturing and mining output. Benchmark 10-year notes were last up 11/32 in price to yield 2.36 percent, down from 2.39 percent late on Friday. The yields have fallen from 2.50 percent on Thursday, the highest since September 30.
Bond prices gained earlier on Monday after Germany's European Union commissioner said it was time to prepare for a "state of emergency." Athens now has just two weeks to find a way out of the impasse before it faces a 1.6 billion euro bill due to the International Monetary Fund. That might leave it out of cash, unable to borrow and cast out of the single currency.
Treasury prices briefly turned negative on Monday afternoon as stocks pared losses and as dealers prepared for new corporate debt supply. Concerns about Greece delayed some of that issuance on Monday. The next major US focus will be this week's two-day Federal Reserve meeting, which concludes on Wednesday. Stronger-than-expected job gains in May and an uptick in wage inflation has increased speculation that the Fed may begin raising interest rates in September. Disappointing data before the release of the May jobs report had led many investors to push back expectations of a hike until December, or later.

Copyright Reuters, 2015

Comments

Comments are closed.