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7/22, 2:30 PM (Source: TeleTrader)
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Treasuries rise as Trump urges Fed to cut rates

Even though moderate risk appetite was evident in the rise in stocks on Wall Street before the opening bell on Monday and the dollar strengthened, investors also lifted the prices of debt securities issued by the Department of Treasury in Washington. The increase in the value of bonds has extended after United States President Donald Trump claimed the Federal Reserve should act immediately and that "interest rate costs should have been much lower." Yields, which move inversely to bonds, are equivalent to borrowing costs.

The two-year US rate declined 1.6 basis points at 8:26 am ET to 1.806%. The yield on the 10-year notes dropped 2.1 points to 2.036% compared to a 3.3-point slump for the 30-year maturity. Corresponding futures were little changed with the exception of those on the longest-term debt, which rose 0.16%. Of note, the German 10-year Bund yield was 1.4 points lower at 0.335% below zero and the British benchmark fell 1.6 points to 0.72%.

Breaking the News / IT