Treasuries advance as Fed praises economy

Markets 7/13/2018, 9:28 PM
Treasuries advance as Fed praises economy

The yield curve showing benchmarks for United States government debt flattened further on Friday after results of a widely watched regular survey indicated the perception of current conditions worsened among consumers, mostly with concern over the escalating trade war, but together with expectations of strong income growth.

The stock market strengthened in late trade and precious metals were lower, while longer-dated Treasuries rose more than short-term debt as Federal Reserve officials praised the state of the economy and stuck with the recipe of gradual interest rate hikes.

As sovereign bonds rallied, yields were pushed lower. The yield on the US two-year note was at 2.578% or 0.8 basis points down at 9:25 pm CET. The ten-year note yielded 2.829% or 1.7 points less for the day, compared to a drop of 1.5 points to 2.932% for the thirty-year bond. Equivalent futures advanced 0.01%, 0.1% and 0.19%, respectively.

Breaking the News / IT

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