FXStreet (Mumbai) - The firm tone in the Chinese equity markets and across European equities hurt the safe haven appeal of the US treasuries and pushed the yields higher.
US traders/investors return to the markets today after the extended weekend. Chinese trade data released earlier today pointed to a slowdown in the domestic as well as the global economy. However, the positive close in the Shanghai Composite, triggered a rally in the European stocks and pushed the US index futures higher.
At the time of writing, the yield on the benchmark 10-year treasury note was trading more than 3 basis points higher at 2.162%. The 30-year yield also strengthened more than 3 basis points to 2.925%. At the short-end, the 2-yr yield ticked higher by 2 basis points to 0.725%.
The upward revision of the Eurozone Q2 GDP also dented the safe haven appeal of the treasuries and supported the rise in the yields.
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