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9/8/2017, 4:57 PM (Source: TeleTrader)
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Treasuries extend losses after Dudley's comments

United States government bonds continued trading lower on Friday, with yields pushing higher, after New York Federal Reserve President William Dudley said that storms such as Hurricane Harvey and Irma tend to boost economic growth in the long term.

The policymaker said the US economy could be gathering strength and stated he is pretty confident growth will be above-trend going forward. Dudley also said he doesn't see any reason not to taper the Fed's $4.5 trillion balance sheet, but that it is too soon to judge when the central bank will raise interest rates again.

The yield on 10-year Treasuries jumped 3.28 basis points to 2.0715% at 4:32 pm CET, while the yield on two-year notes rose 1.61 basis points to 1.2781%. The yield on 30-year debt climbed 3.24 basis points to 2.6896% at the same time. Meanwhile, in Europe, the yield on 10-year German Bunds increased 1.3 basis points to 0.32%, whereas the yield on 10-year British gilts soared 3.1 basis points to 1.003%. Bond yields and prices are inversely related.

Baha Breaking News (BBN) / IB