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8/24/2017, 9:07 PM (Source: TeleTrader)
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Treasuries fall further on debt ceiling debate

United States government bonds traded deeper in the red on Thursday as investors demanded higher yields in order to compensate them for the risk of a government shutdown in case the debt limit is not raised before the deadline.

The Congressional Budget Office and Bipartisan Policy Center both estimated that the "extraordinary measures" adopted by the US Treasury to buy Congress more time to raise the debt limit will expire in early to mid-October.

The yield on 10-year Treasuries jumped 2.61 basis points to 2.1921% at 8:51 pm CET, while the yield on two-year notes climbed 2.05 basis points to 1.3256%. The yield on 30-year debt rose 2.24 basis points to 2.7685% at the same time. Bond yields move in the opposite direction relative to prices.

Baha Breaking News (BBN) / IB