UK, German sovereign bonds dip as stocks rise

Markets 9/14/2018, 1:00 PM
UK, German sovereign bonds dip as stocks rise

The most widely watched exchange rates were largely in a tight range near the flat line on Friday before the start of trading in stock exchanges in New York, while European equities advanced in sync with precious metals. Prices of British and German sovereign debt declined and yield curves steepened together with United States Treasuries. Markets were focused on the possibility for negotiations to bring solutions for the trade disputes between the government in Washington and its major partners, particularly Canada and China.

The pound strengthened marginally against the euro as Mark Carney, governor of the Bank of England, claimed the top monetary authority and large banks in the United Kingdom can overcome the impact of a disorderly Brexit. British government notes maturing in two years yielded 0.816% at 11:56 am CET, adding 0.8 basis points for the day. The 10-year note yield jumped 2.6 points to 1.384%, compared to a rally of 1.5 points for the 30-year measure.

The yield on the German two-year note rose 0.8 points to a negative 0.534%. The ten-year Bund yield was up 1.6 points at 0.441% and the 30-year bond yielded 1.107% or 1.6 basis points more for the day. Their corresponding futures were down 0.01%, 0.11% and 0.23%, respectively.

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