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Treasury yields rose Friday, capping a turbulent week of trading, after the all-important nonfarm payrolls report shows the economy that was growing at a more moderate clip.
Treasury yields came off their session highs after the November nonfarm payrolls report showed the U.S. economy had added less jobs than expected. The 10-year Treasury note yield was mostly flat at 2.877%, down from its session high at 2.903%, while the 2-year note yield was down 0.4 basis point to 2.754%. The 30-year bond yield is up 1.4 basis points to 3.148%. Bond prices move in the opposite direction of yields. The economy added 155,000 jobs in November, while the unemployment rate remains steady at 3.7%. Economists polled by MarketWatch had forecast a gain of 190,000 jobs. Average hourly earnings rose 0.2%.
Treasury prices rose, pushing yields lower, Thursday as investors were leaving stocks for the perceived safety of haven assets including U.S. government debt.
This week’s brisk and sudden rally in long-dated Treasurys was capped by an upsurge Tuesday, and investors attempting to explain the move are pointing to traders that were caught in wrongway bets.
Market analysts and fund managers fear "fundamental economic deterioration" could be headed for the U.S. in 2019 and the stock market could suffer.
The 30-year bond yield slumped 11.8 basis points to 3.160%, falling below the 100-day moving average at 3.163%. Falling below the closely watched short-term trend line comes after the 10-year note yield slipped below its own 200-day moving average at 2.957% earlier on Tuesday. Market participants say dimming prospects for the U.S. economy next year have contributed to the sharp plunge in long-dated yields as trade tensions linger and the stimulus from tax cuts fade. "A lot of this move is a function of portfolios liquidating credit and equity exposure in favor of long-dated Treasurys. With all the negative news, asset managers are looking for safety through Treasurys," wrote Tom di Galoma, managing director for Treasurys trading at Seaport Global Securities. Market participants use moving averages to help determine upside and downside momentum in an asset.
The rally in government debt, which drove Treasury prices higher and rates down, came in late-morning action after fading euphoria around a tentative deal with President Donald Trump and China’s leader Xi Jinping this weekend to delay a further increase in tariffs. The 10-year Treasury note yield (BX:TMUBMUSD10Y) was down 2.4 basis points to 2.990%, around a three month low, after trading as high as 3.050% overnight. Investors say the benchmark bond’s slide below 3%, an important level, could result in further yield declines.
Treasury yields fell on Friday, extending the weeklong decline, as President Donald Trump is set to meet his Chinese counterpart Xi Jinping on the sidelines of the Group of 20 summit in Buenos Aires.
Treasury yields struggle for direction Thursday after attention on a slower rate hike path next year shifts to reports that a deal to resolve U.S.-China trade tensions was making progress
The U.S. Treasury yield curve steepened Wednesday as bond traders see fewer hikes in the cards after Federal Reserve Chairman Jerome Powell suggested the central bank’s benchmark interest rate may be near to where monetary policy no longer stimulates growth. Investors interpreted his speech in front of the Economic Club of New York as modestly dovish after Powell said the central bank was close to the bottom range of estimates for the neutral rate, which was viewed as U-turn from his previous remarks saying that the central bank was far away from the neutral level. “The door has been clearly pushed open for flexibility around the quarterly hiking cycle pausing (terminating?) sooner than previously expected,” wrote Ian Lyngen, head of U.S. interest-rates strategy at BMO Capital Markets.
Treasury yields retreat from session highs after Federal Reserve Chairman Jerome Powell said interest rates were near the level where they neither boost nor slow the economy, language interpreted as casting doubt on expectations the central bank will continue to raise rates at a steady pace in 2019.
Treasury yields edged lower Monday after several presentations from Federal Reserve officials underline divisions in the central bank over next year’s interest rate outlook amid slower global growth
Treasury prices fell slightly on Monday, pushing yields higher, after a rally in risk assets sapped demand for haven assets like government paper ahead of a week of speeches by senior Federal Reserve officials. The 10-year Treasury note yield (BX:TMUBMUSD10Y) was up 2.5 basis points to 3.070%, its biggest one-day rise since Nov. 2. The 2-year note yield (BX:TMUBMUSD02Y) sensitive to shifting expectations for Fed interest rates, picked up 2.3 basis points to 2.837%, while the 30-year bond yield (BX:TMUBMUSD30Y) added 1.5 basis points to 3.320%.
Treasury yields tick lower following a fall in European debt yields, after a round of lackluster data in the eurozone.
Treasury yields rise Wednesday as stocks rebound from their worst start to Thanksgiving week in 45 years, easing demand for haven assets like U.S. government bonds.
Treasury yields held their ground on Tuesday eve as stocks across the world came under pressure, prompted by concerns over a persistent decline in once-highflying U.S. tech companies and waning global growth. The 10-year Treasury note yield (BX:TMUBMUSD10Y) was down 0.9 basis point to 3.050%, after it touched a six-week low on Monday. The 30-year bond yield (BX:TMUBMUSD30Y) fell 1.2 basis point to 3.305%, while the 2-year note yield (BX:TMUBMUSD02Y) was up 1.2 basis points to 2.798%.
Treasury prices rose, pushing yields lower, as stocks dropped on Monday after a confidence gauge for home builders suggested higher interest rates are weighing on activity in the sector.
Treasury yields swung into negative territory after an index gauging confidence among homebuilders showed a sharp plunge. The 10-year Treasury note yield was down 0.4 basis point to 3.070%, after touching an intraday high of 3.096%. The 2-year note yield fell 1.6 basis points to 2.796%, while the 30-year bond yield was up 0.5 basis point to 3.331%. Bond prices move in the opposite direction of yields. The NAHB's confidence index fell eight points to 60 in November, its biggest drop since Feb. 2014. The home construction industry has been assailed by higher mortgage rates, in turn, driven by the general climb in Treasury yields this year as the Federal Reserve continues on in its path to normalize rates.
Treasury yields slump on Friday, extending their weeklong decline, after a senior Federal Reserve official issues concerns over softer global growth, potentially opening the door to fewer rate hikes than expected next year
Investors snapped up U.K. government bonds Thursday, pulling down yields, as they sought shelter from geopolitical uncertainty in Britain after key ministers in U.K. Prime Minister Theresa May’s government resigned over her draft Brexit plan. Treasurys yields also fell on the Brexit uncertainty, but came off session lows after a news report, later denied by U.S. Trade Representative Robert Lighthizer, that the Trump administration was postponing tariffs on Chinese imports. The 10-year Treasury note yield (BX:TMUBMUSD10Y) was down 0.4 basis point to 3.116%, after having fallen as low as 3.081%.
Treasury yields fell slightly on early Tuesday trading ahead of October’s consumer price inflation numbers, which could aid the Federal Reserve’s push to raise rates
Treasurys rally on Tuesday as investors pour into the bond market after equity market turmoil on Monday
Treasury yields pull back on Friday as global stocks slip on concerns over China’s economic slowdown.
Treasury yields continued their ascent on Thursday even after the Federal Reserve made few changes to its policy statement.