Treasuries move higher as markets brace for Fed

Markets 6/13/2018, 11:56 AM
Treasuries move higher as markets brace for Fed

Prices of sovereign debt of the United States, Britain and Germany were mixed on Wednesday before the start of trading at stock markets in New York. The dollar was higher against the majority of major peers, except for a flat exchange rate versus the euro, and gold and silver were little changed while investors were waiting for a monetary policy update from the Federal Reserve, scheduled for later in the day. The European Central Bank and the Bank of Japan are also due to issue updates this week.

The two-year Treasury note yielded 2.5387% at 11:51 pm CET, an unchanged reading. The ten-year yield weakened 0.55 basis points to 2.9553%, compared to the decline of 0.56 points to 3.0879% for the 30-year bond. Equivalent British debt yields slipped 0.4 points to 0.748%, 0.9 to 1.392% and two points to 1.83%, respectively.

The German two-year note yielded 0.8 points higher for the day or a negative 0.581%. The 10-year Bund yield was up 0.3 points at 0.494% and the 30-year gauge was flat at 1.181%. Italy's measures slumped 10 points to 0.912%, 7.7 to 2.787% and 2.5 basis points to 3.561%, respectively. Yields move inversely to debt securities.

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