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5/10/2017, 3:40 PM (Source: TeleTrader)
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Treasuries trade higher after Comey dismissal

United States government bonds were higher on Wednesday as investors digest the dismissal of the Federal Bureau of Investigation (FBI) Director James Comey by President Donald Trump. The cautious mood on markets has put bond yields under pressure after they rose in recent days on the back of expectations of tighter monetary policy in the world's largest economy.

The yield on 10-year Treasuries fell 2.54 basis points to 2.3723% at 3:31 pm CET, while the yield on two-year bonds eased 0.59 basis points to 1.3346%. The yield on 30-year debt was down 2.09 basis points to 3.0062% at the same time.

Across the Atlantic, the yield on 10-year German Bunds dropped 2.6 basis points to 0.404%, whereas the yield on British gilts of the same maturity dipped 3 basis points to 1.172%. Bond yields move in the opposite direction relative to prices.

Breaking the News / IB