US Treasuries weaken before economic data

Markets 9/14/2018, 2:22 PM
US Treasuries weaken before economic data

Trading in major currencies was largely muted on Friday ahead of the opening bell on the New York Stock Exchange, while European equities kept most of the modest daily gains together with spot prices of precious metals. Prices of United States sovereign debt declined and the yield curve mildly steepened, in line with matching benchmark securities in Europe.

Markets were focused on the possibility for negotiations to bring solutions for the trade disputes between the administration in Washington and its major partners, though a media report indicated Canada was prepared to continue talks into next month despite political pressure to wrap up the overhaul of the North American Free Trade Agreement, or NAFTA. Investors were bracing for a barrage of statistical updates from the world's biggest economy – prices of import and export goods, retail sales, industrial production, consumer sentiment and oil rig count.

The two-year Treasury yield grew 0.5 basis points at 2:14 pm CET to 2.765%. The ten-year note yielded 2.998% or 1.6 points more for the day, looking to breach the 3% level for the first time since the beginning of last month. The thirty-year measure was up 1.7 points at 2.126%. The corresponding futures lost 0.01%, 0.1% and 0.24%, respectively.

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