Treasuries partly pare loss as dollar's surge eases

Markets 5/16/2018, 8:07 PM
Treasuries partly pare loss as dollar's surge eases

Spot gold slightly rebounded after reaching a year-to-date low on Wednesday, while the dollar's daily advance against the euro and the pound shrank. The greenback remained in the red compared to the yen and growth in yields on United States government debt slowed as bonds took back some of the losses from the session.

Traders were focusing on a political crisis in Italy, where the populist parties trying to form a ruling coalition suggested demanding from the European Central Bank to write off liabilities of €250 billion. New house starts in the US fell last month, but statistics also showed a jump in industrial production.

The two-year Treasury note yielded 2.5768% or 0.23 basis points more for the day at 8:01 pm CET. The yield on the benchmark ten-year securities climbed to 1.11 points to 3.0834%, after hitting 3.0927%, the highest level in nearly seven years. The 30-year US bond yielded 3.2065%, a rise of 0.58 points. The German 10-year Bunds last yielded 1.503% or 1.4 points less in the session, compared to a fall of 3.9 basis points to 0.606% in equivalent British gilts.

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EUR/USD-0.22%

1.16941
Chart for: EUR/USD Spot

GBP/USD-0.23%

1.33501
Chart for: GBP/USD Spot

USD/JPY+0.14%

109.406
Chart for: USD/JPY Spot

EUR/GBP+0.03%

0.87603
Chart for: EUR/GBP Spot