US treasuries’ fall trigger chain reaction

Dhaka,  Sat,  24 June 2017
Published : 13 May 2017, 16:20:26
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US treasuries’ fall trigger chain reaction

US treasuries’ fall trigger chain reaction
The yield on 10-year US Treasuries sank 7.0 basis points, to 2.33 per cent. The biggest decline in a month came after yields reached six-week highs on Thursday, trading above 2.42 per cent thanks to strong US producer price data, according to a global media report Saturday.

Friday’s move triggered a chain reaction in other core markets as the 10-year Bund yield fell 3bp to 0.39 while gilt yields dived 7bp to 1.09 per cent, also pulled lower by worries over this week’s poor UK industrial figures and Brexit uncertainty.

Analysts say Friday’s US data looks fairly disappointing, a broader softening nudged the core rate of inflation back below 2.0 per cent to 1.9 per cent and likewise both headline and core retail sales missed estimates.

Indeed, a four-month high in consumer confidence indicated by a University of Michigan survey released in the wake of Friday’s disappointing figures reinforced consensus expectations that little would deflect the Fed from a likely rate move next month.

-SZ-
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