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US Treasury bonds

Yield curve flattens as Fed seen more proactive on inflation
Markets

Yield curve flattens as Fed seen more proactive on inflation

  • The Fed surprised markets on Wednesday when it said that policymakers are forecasting two interest rate hikes in 2023.
  • Two-year yields jumped to 0.254%, the highest since April 2020. Five-year yields increased to 0.928%, the highest since April 6.
Updated 18 Jun, 2021 07:12pm
Yields drift lower as latest views from Fed awaited
Markets

Yields drift lower as latest views from Fed awaited

  • The benchmark 10-year yield was last down 1 basis point at 1.4888%.
  • "Truly, to getting a read on where the economy is heading and where inflation is heading, we don't think we're going to have those data points until the fall," he said.
Published 16 Jun, 2021 07:58pm
Yields rise from three-month lows before Fed meeting
Business & Finance

Yields rise from three-month lows before Fed meeting

  • The Fed is not expected to announce any plans to pare its bond purchases until its August Jackson Hole economic symposium, though it may start dropping hints that it has started to talk about a taper.
  • "This rally in rates seems very counterintuitive. I still haven't found a very strong case besides perhaps the offset of positioning, people are getting out of trades ahead of the FOMC," Rajappa said.
Published 14 Jun, 2021 07:29pm
Surprisingly weak April jobs report pushes yields lower
Markets

Surprisingly weak April jobs report pushes yields lower

  • The benchmark 10-year yield, which dropped to 1.469%, the lowest since March 4, was last down 1.6 basis points at 1.5452%, holding below a 14-month high of 1.776% reached on March 30.
  • The 30-year yield tumbled to its lowest level since March 1 at 2.158%. It was last up less than a basis point at 2.2449%.
Published 07 May, 2021 08:35pm
US bond derivatives signal calm, but economic fundamentals could spur more sell-offs
Markets

US bond derivatives signal calm, but economic fundamentals could spur more sell-offs

  • "The selloff may have run its course," said Jabaz Mathai, head of US rates strategy at Citi, pointing to inflation breakevens backing down.
  • "I would not say the bear market in Treasuries is over at this point, but there is the prospect of a near-term pullback," said Mathai. "You should see some stability in the 10-year around these levels."
Published 02 Mar, 2021 09:19pm
US yields soften after vaulting to one-year highs; sentiment wary
Markets

US yields soften after vaulting to one-year highs; sentiment wary

  • The benchmark 10-year US Treasury note's yield was down 5.2 basis points at 1.4633%. On Thursday it touched 1.614%, the highest in a year, rocking world markets.
  • Part of Friday's decline could also reflect dealers convincing clients to buy bonds after poor demand for a 7-year note auction on Thursday.
Published 26 Feb, 2021 08:44pm
Inflation bets send yields up to new milestone
Business & Finance

Inflation bets send yields up to new milestone

  • The 10-year yield was up 6.9 basis points at 1.4578% and reached as high as 1.468%, the highest in a year.
  • "It's starting to become a momentum trade and the sell-off is becoming a global phenomenon," said Subadra Rajappa, head of US rates strategy at Societe Generale.
Published 25 Feb, 2021 08:58pm
Traders push yields higher as inflation concerns linger
Markets

Traders push yields higher as inflation concerns linger

  • The benchmark 10-year yield was up 4.1 basis points at 1.4046% in morning trading, its first time above 1.4% since a year ago, and reached as high as 1.435%
  • Patrick Leary, chief market strategist and senior trader at Incapital, said the trading could also be a sign of investor skepticism about Powell's reassurance.
Published 24 Feb, 2021 09:09pm
Yields rise after weak auction, as fiscal stimulus seen near
Markets

Yields rise after weak auction, as fiscal stimulus seen near

  • The Treasury saw soft demand for $27 billion in 30-year bonds, its final sale of $126 billion in coupon-bearing supply this week.
  • Our base case view is for a $1 trillion package, but I think market expectations are gravitating towards something much larger.
Published 12 Feb, 2021 09:11pm
Yields hold at lower levels as reflation trade loses steam
Business & Finance

Yields hold at lower levels as reflation trade loses steam

  • Yields dropped on Wednesday after data showed that the core consumer price index, which excludes the volatile food and energy components.
  • Lederer added that he does expect yields to rise later this year as COVID-19 vaccines are rolled out and the economy returns to more normal conditions.
Published 11 Feb, 2021 09:11pm
US 10-yr yield rises to 1.2pc, inflation expectations build
Markets

US 10-yr yield rises to 1.2pc, inflation expectations build

  • The $1.9 trillion stimulus package looks likely to be approved by Congress, bypassing Republican roadblocks.
  • Ten-year borrowing costs extended their rise to the highest since last March at 1.2%, while 30-year yields touched 2% for the first time since mid-February 2020 .
Published 08 Feb, 2021 05:54pm
Longer-term yields higher in volatile session after jobs report
Markets

Longer-term yields higher in volatile session after jobs report

  • The benchmark 10-year yield was up 1.4 basis points at 1.1532% in morning trading after it reached as high as 1.188%, its highest since March 20, 2020.
  • US employment growth rebounded less than expected in January and job losses the prior month were deeper than initially thought.
Published 05 Feb, 2021 08:47pm
Yield curve steepens on Washington spending plans, jobs data
Markets

Yield curve steepens on Washington spending plans, jobs data

  • The benchmark 10-year yield was up 1.5 basis points in morning trading at 1.1461% and at one point reached 1.16%, its highest since Jan. 12.
  • Both factors pointed to improving economic growth, which makes ultra-safe Treasuries less attractive to investors.
Published 04 Feb, 2021 09:23pm
US 10-year yield skids to three-week low on nagging virus woes
Markets

US 10-year yield skids to three-week low on nagging virus woes

  • Yields on other long-dated Treasury maturities were also lower, with those on 30-year and 20-year bonds falling to two-week troughs.
  • Tom di Galoma, managing director at Seaport Global in New York, said the rally in Treasuries extended after Merck pulled out of its COVID vaccine plan.
Published 25 Jan, 2021 09:41pm
Longer-term yields rise after weak US jobs report
Markets

Longer-term yields rise after weak US jobs report

  • Nonfarm payrolls decreased by 140,000 jobs last month amid growing COVID-19 cases, marking the first decline since April.
  • Longer-term yields have been climbing all week as Democrats won control of the US Senate as a result of Georgia runoff elections.
Published 08 Jan, 2021 08:57pm
Yields drop, curve flattens after bumper 30-year auction
Markets

Yields drop, curve flattens after bumper 30-year auction

  • Primary dealers, who are responsible for absorbing the supply not sold to direct and indirect bidders at auction.
  • The drop in longer-dated yields pulled the yield curve flatter with the spread between the two- and 10-year yields last down about 2 basis points to 76.6 basis points.
Published 11 Dec, 2020 02:36am