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7/17/2018, 8:24 PM (Source: TeleTrader)
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Yields on short-term US debt rise to decade highs

A rebound in industrial production in June, measured by the United States Federal Reserve, helped a surge in stocks on Tuesday with appetite for higher risk. The dollar rallied, safe-haven gold touched the lowest point in a year and Treasuries declined, propping up yields in the nearer section of the curve. Jerome Powell, the central bank's chief, expressed confidence in the economy and stuck to the agenda of gradual interest rate increases, saying they maintain growth on a sustainable basis.

The yield on the three-month US bill topped 2% for the first time since June 2008, offering increasingly appealing profits compared to equities. The widely watched two-year note yielded 2.611% at 8:20 pm CET, a rise of 1.5 basis points for the day and the highest level since August of that year. The benchmark 10-year yield was unchanged at 2.858% and the 30-year bond yielded 2.968%, up 0.6 points.

Equivalent futures slipped 0.02%, 0.03% and 0.04%, respectively.

Breaking the News / IT