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4/17, 12:37 PM (Source: TeleTrader)
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US yields hit four-week highs as earnings come in

Debt securities issued by the Department of the Treasury in Washington posted moderate gains on Wednesday, helped by upbeat economic data from China. Investors' focus was on equities and the most widely watched government bonds sold off, lifting yields. The US borrowing costs indicators hit the strongest levels since March 19 as the corporate earnings season was heating up.

Profit growth was wide so far if only modest and traders repositioned. Revenue from fixed income, commodities and currencies was expectedly the weak spot among major banks. Gold and silver, the other class of safe havens, were little changed and Wall Street indexes were slightly higher in the premarket.

The two-year US yield advanced 1.7 basis points at 6:33 am ET to 2.423%. The ten-year Treasury rate rose by 1.5 points to 2.609% and the 30-year measure increased by 0.8 points to 3.004% after topping 3% for the first time in four weeks. Equivalent futures prices were down 0.01%, 0.11% and 0.19%, respectively.

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