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10/21, 5:48 PM (Source: TeleTrader)
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Treasuries drop with bets on orderly Brexit

Market sentiment showed a rise in risk appetite on Monday, with stocks gaining and benchmark government bonds selling off including those issued by the United States government. Focus was mostly on the debate in the Parliament of the United Kingdom, where John Bercow, speaker of the House of Commons, didn't allow a meaningful vote on the Brexit deal. Most bets were on a technical extension of the withdrawal deadline and an arrangement including a transition period.

Of note, traders continued to follow cues on the impeachment process against US President Donald Trump, who is holding a cabinet meeting.

The two-year Treasury yield jumped 3.3 basis points to 1.611 at 11:42 am ET. The ten-year rate was 4.7 points higher at 1.8% and the yield on the 30-year bonds advanced 3.8 points to 2.289%. Corresponding futures dipped 0.05%, 0.23% and 0.49%, respectively.

In comparison, Germany's 10-year yield surged 3.9 points to a negative 0.34% with futures down 0.23%. The UK's equivalent was 4.4 points up at 0.755%. Yields fall when bond prices rise and vice versa.

Breaking the News / IT