Treasuries continue rise after Trump news conference
Prices of United States government bonds traded higher following Donald Trump's first news conference as the president-elect on Wednesday and after an auction by the US Treasury Department.
The incoming president said he thinks Russia is indeed responsible for the presidential elections hack, but added that other countries and groups also engaged in related breaches. However, Trump did not provide any specific comments on his proposed economic policies during the speech, especially regarding fiscal stimulus, deregulation, and corporate tax cuts.
Meanwhile, the Treasury Department auctioned $20 billion in 10-year notes at a high yield of 2.342% and with a bid-to-cover ratio of 2.58. The yield on 10-year Treasuries, which moves inversely to the security's price, declined following the sale to 2.3466% at 7:58 pm CET. The yield on two-year bonds decreased to 1.1694% at the same time, while the yield on 30-year debt eased to 2.9429%. In Europe, the yield on 10-year British gilts skidded to 1.347%, while its German equivalent rose to 0.328%.