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9/28/2017, 3:12 PM (Source: TeleTrader)
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Treasuries decline on Trump's tax plan

United States government bonds traded lower on Thursday following the release of President Donald Trump's long-awaited tax proposal. The plan was touted by analysts as one that has a solid chance of implementation and that will help the US recovery extend into the next year. 

The yield on 10-year Treasuries climbed 3.22 basis points to 2.3425% at 2:59 pm CET, while the yield on two-year notes increased 0.4 basis points to 1.4747%. The yield on 30-year debt jumped 3.66 basis points to 2.8991% at the same time.

Across the Atlantic, the yield on 10-year German Bunds, a benchmark for the euro area, rose 2.7 basis points to 0.495%, whereas the yield on 10-year British gilts grew 2.2 basis points to 1.405%. Bond yields and bond prices are inversely related.

Baha Breaking News (BBN) / IB