11/9/2018, 2:58 PM (Source: TeleTrader)
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Treasuries move higher as Fed prompts stock selloff

As stocks worldwide suffered a hit on Friday following yesterday's monetary policy statement from the United States Federal Reserve bonds issued by the United States government jumped, which means yields dropped, in a market shift to risk aversion. The dollar mostly rose, helping a selloff in precious metals and oil, leaving the safe haven role to benchmark sovereign debt securities, including those of the United Kingdom and Germany. The Fed yesterday expressed the intention to continue with interest rate increases even though it noted a slowdown in business investment.

US Treasuries pared a chunk of gains after last month producer prices jumped 0.6%, the most in six years. The yield on the two-year note fell 1.6 basis points to 2.961% at 2:55 pm CET. The benchmark 10-year yield lost 1.5 points to 3.223% and the measure slipped half a point to 3.429% for bonds maturing in 30 years. Corresponding futures advanced 0.02%, 0.09% and 0.09%, respectively.

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