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The pan-regional STOXX Europe 600 index rose 0.7% to a record close, posting its sixth straight session of gains and best weekly performance at 1.1% since early May. “There is a concern that eventually you could get some migration out of stocks into bonds,” Meckler said. Benchmark German 10-year bonds fell 3 basis points to -0.28% and were set for their best week of the year. The dollar index rose 0.54%, with the euro fell 0.55% to $1.2102. Oil prices rose to multi-year highs, heading for a third straight week of gains on the improved outlook for worldwide demand as rising vaccination rates lead to a lifting of pandemic curbs.
Persons: “ You’ve, , Michael James, Rick Meckler, ” Meckler, , Jeremy Gatto Organizations: European Central Bank, Federal Reserve, Wedbush Securities, Cherry Lane Investments, Dow Jones, Nasdaq, Japan, Treasury, Brent Locations: Europe, breakeven, Los Angeles, New Vernon , New Jersey, Asia, Pacific, coronavirus, Unigestion
Stocks hover near record highs as bond yields slide
  + stars: | 2021-06-11 | by ( Herbert Lash | Tom Wilson | ) www.reuters.com + 0.00   time to read: +3 min
The ECB’s projections pushed the pan-regional STOXX Europe 600 index up 0.68% to an intraday high and record close at 457.64. Investors are leaning into tech stocks because they don’t use raw materials and productivity rate is higher than other sectors, he said. “There is a concern that eventually you could get some migration out of stocks into bonds. But right now we seem to be at that pre-tipping point where bonds don’t yield enough to scare people out of stocks,” Meckler said. The dollar index rose 0.57%, with the euro down 0.61% to $1.2095.
Persons: Toby Melville, Rick Meckler, ” Meckler, , , Jeremy Gatto Organizations: London Stock Exchange Group, City of, REUTERS, European Central Bank, Cherry Lane Investments, Investors, Dow Jones, Nasdaq, Japan, Treasury, Brent Locations: City, City of London, Britain, Europe, breakeven, New Vernon , New Jersey, Asia, Pacific, coronavirus, Unigestion
Stocks set record highs as bond yields slide
  + stars: | 2021-06-11 | by ( Herbert Lash | Tom Wilson | ) www.reuters.com + 0.00   time to read: +5 min
The pan-regional STOXX Europe 600 index rose 0.7% to a record close, posting its sixth straight session of gains and best weekly performance at 1.1% since early May. “There is a concern that eventually you could get some migration out of stocks into bonds,” Meckler added. U.S. growth-oriented stocks slightly outpaced value stocks as the two styles vied for leadership: big tech stocks added the most upside followed by financial shares. Benchmark German 10-year bonds fell 3 basis points to -0.28% and were set for their best week of the year. The dollar index rose 0.49%, with the euro down 0.51% to $1.2107.
Persons: Brendan McDermid, “ You’ve, , Michael James, Rick Meckler, Meckler, Jack Ablin, ” Ablin, , Jeremy Gatto Organizations: New York Stock Exchange, REUTERS, European Central Bank, Federal Reserve, Treasury, Wedbush Securities, Cherry Lane Investments, Dow Jones, Nasdaq, Cresset Capital Management, Japan, Brent Locations: St, New York City, U.S, Europe, Stocks, breakeven, Los Angeles, New Vernon , New Jersey, Asia, Pacific, COVID, Unigestion
MSCI’s benchmark, the S&P 500 and a key European index surged to record highs after the U.S. Labor Department said the consumer price index in the 12 months ended in May accelerated 5.0%, the biggest year-on-year increase since August 2008. In a sign of market complacency, the 10-year U.S. Treasury note’s yield fell 1.2 basis points to 1.4772% after earlier rising above 1.5% following the data’s release. On Wall Street, the Dow Jones Industrial Average rose 0.35%, the S&P 500 gained 0.45% and the Nasdaq Composite added 0.49%. A surprisingly strong U.S. inflation print in April spooked investors, sparking a cautious run into Thursday’s of May data. Short positions in Treasuries were the highest since 2018, according to JP Morgan positioning data last week.
Persons: Subadra Rajappa, ” Rajappa, Joseph LaVorgna, ” LaVorgna, , , MSCI’s Organizations: U.S . Labor Department, Treasury, Societe Generale, Americas, Dow Jones, Nasdaq, European Central Bank, Morgan Locations: New York, Natixis, U.S, Treasuries
Stocks rally, dollar stable after jump in U.S. CPI data
  + stars: | 2021-06-10 | by ( Herbert Lash | Simon Jessop | ) www.reuters.com + 0.00   time to read: +3 min
FILE PHOTO: The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. REUTERS/Toby Melville/File Photo/File PhotoMSCI’s all-country world index surged to a record intra-day high after the U.S. Labor Department earlier said the consumer price index in the 12 months through May accelerated 5.0%, the biggest year-on-year increase since August 2008. The benchmark 10-year U.S. Treasury yield rose 3.0 basis points to 1.5194% after the data’s release, while the dollar index was essentially flat, down 0.08%. A surprisingly strong U.S. inflation print in April spooked some investors, leading to a cautious run into the release on Thursday of the May data. Short positions in Treasuries were the highest since 2018, according to JP Morgan positioning data last week.
Persons: Toby Melville, Subadra Rajappa, ” Rajappa, Joseph LaVorgna, ” LaVorgna, , Organizations: London Stock Exchange Group, City of, REUTERS, U.S . Labor Department, Treasury, Societe Generale, Americas, Dow Jones, Nasdaq, Atlantic, European Central Bank, Morgan Locations: City, City of London, Britain, New York, Natixis, COVID, U.S, Treasuries
Stocks rally, yields drop as U.S. CPI data calms investors
  + stars: | 2021-06-10 | by ( Herbert Lash | ) www.reuters.com + 0.00   time to read: +4 min
The report was largely in line with expectations, said Subadra Rajappa, head Of U.S. rates strategy at Societe Generale in New York. “The (equity) market is going to ignore the data. MSCI’s all-country world index rose 0.45% to 718.81, nudging past its previous record set Tuesday. In the United States, data showed people filing new claims for unemployment benefits fell last week to the lowest level in nearly 15 months. The dollar index fell 0.071%, with the euro down 0.07% to $1.217.
Persons: Toby Melville, Subadra Rajappa, ” Rajappa, Joseph LaVorgna, ” LaVorgna, , MSCI’s, Thomas Hayes, ” Hayes, , Brent Organizations: YORK, Global, London Stock Exchange Group, City of, REUTERS, U.S . Labor Department, Societe Generale, Treasury, Americas, European Central Bank, Dow Jones, Nasdaq, Great, Great Hill Capital, ECB, U.S, West Texas Locations: City, City of London, Britain, New York, Natixis, Great Hill, United States
GLOBAL MARKETS-Stocks hover near highs as bond yields dip
  + stars: | 2021-06-09 | by ( Herbert Lash | Tom Arnold | ) www.reuters.com + 0.00   time to read: +5 min
The yield on benchmark 10-year U.S. Treasury notes fell 3.2 basis points to 1.4958%, down from 1.528% late on Tuesday. Yields plunged as traders in part were forced to unwind short positions in Treasuries, said Joe LaVorgna, chief economist of the Americas at Natixis. MSCI’s all-country world index, a U.S.-centric benchmark for global equity markets, rose 0.01% to 717.04, down a little more than 1 point from a record peak on Tuesday. “I therefore see potential for a higher print to push real yields and shorter-dated yields higher, thus flattening the curve and boosting the dollar,” Athey said. The dollar held at the lower end of recent gains, with the U.S. dollar index down slightly at 90.031.
Persons: Joe, Sebastien Galy, Joe LaVorgna, , Biden, ” LaVorgna, MSCI’s, , Naokazu Koshimizu, James Athey, ” Athey Organizations: Democratic, Nordea Asset Management, Treasury, Dow Jones, Nasdaq, European Central Bank, Britain’s FTSE, Nikkei, Nomura Securities, Federal Reserve, Aberdeen Standard Investments, U.S, Deutsche, Brent Locations: U.S, Treasuries, Natixis, Europe, Asia, Pacific, Japan, China, Beijing
Stocks hover near highs as bond yields dip
  + stars: | 2021-06-09 | by ( Herbert Lash | Tom Arnold | ) www.reuters.com + 0.00   time to read: +4 min
NEW YORK/LONDON (Reuters) - World stocks hovered near record highs and U.S. bond yields fell on Wednesday as some of U.S. President Joe Biden’s stimulus efforts appeared to be on the rocks, boosting the appeal of technology stocks as inflation pressures ease. The yield on benchmark 10-year U.S. Treasury notes fell 3.7 basis points to 1.4908%, down from 1.528% late on Tuesday. MSCI’s all-country world index, a U.S.-centric benchmark for global equity markets, fell 0.06% to 716.53, down a little more than 1 point from a record peak on Tuesday. The pan-regional STOXX Europe 600 index rose 0.1% to a new record close, but shy of all-time peak on Tuesday. CURRENCIES STEADYInflation data from China showed its producer price index jumped 9.0% from a year earlier, the highest in over 12 years, on surging commodity prices.
Persons: Joe, Brendan McDermid, Elizabeth MacDonough, Sebastien Galy, Joe LaVorgna, , Biden, ” LaVorgna, MSCI’s, Dennis Dick, ” Dick, Britain’s, IAG Organizations: New York Stock Exchange, REUTERS, Senate, Democratic, Nordea Asset Management, Treasury, Dow Jones, Nasdaq, Bright Trading, Apple, GameStop, European Central Bank, Britain’s FTSE, Air France KLM, Lufthansa, British Airways, U.S . Centers for Disease Control, Prevention, Nikkei, Thursday’s, U.S, Deutsche, Brent Locations: U.S, New York City, Treasuries, Natixis, Europe, Asia, Pacific, Japan, Thursday’s U.S, China, Beijing
Stocks touch new highs as volatility eases
  + stars: | 2021-06-08 | by ( Herbert Lash | Marc Jones | ) www.reuters.com + 0.00   time to read: +3 min
FILE PHOTO: The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. MSCI’s benchmark for global equity markets fell 0.07% to 716.48 after earlier scaling a fresh intraday high. In Europe, the pan FTSEurofirst 300 index added 0.08% to close at a new record high, while the STOXX 600 index rose 0.15% to also set a new closing high. The equity market’s so-called “fear gauge,” the VIX, fell to as low as 15.15, a level not seen since February 2018. The dollar index rose 0.109%, with the euro down 0.08% to $1.2179.
Persons: Toby Melville, don’t, Sterling, We’ve, , Simon Maughan, Lombard Organizations: Equity, London Stock Exchange Group, City of, REUTERS, Treasury, European Central Bank, Dow Jones, Nasdaq, ECB, Nikkei, drugmakers, Brent Locations: City, City of London, Britain, Europe, Beijing, Asia
Stocks touch new highs as volatility eases, dollar gains
  + stars: | 2021-06-08 | by ( Herbert Lash | Marc Jones | ) www.reuters.com + 0.00   time to read: +4 min
FILE PHOTO: The front facade of the New York Stock Exchange (NYSE) is seen in New York, U.S., February 16, 2021. In Europe, the pan FTSEurofirst 300 index added 0.08% to close at a new record high, while the STOXX 600 index rose 0.15% to also set a new closing high. The equity market’s so-called “fear gauge,” the VIX, fell to as low as 15.15, a level not seen since February 2018. The dollar index rose 0.126%, with the euro down 0.12% to $1.2174. U.S. crude futures rose 82 cents to settle at $70.05 a barrel.
Persons: Brendan McDermid, don’t, Peter Tuz, ” Tuz, Goldman Sachs, We’ve, , Simon Maughan, Sterling, , Lombard Odier Organizations: New York Stock Exchange, REUTERS, Treasury, European Central Bank, Chase Investment, Amazon.com Inc, Apple Inc, Google, Inc, Facebook, Dow Jones, Nasdaq, ECB, Brent, Nikkei, drugmakers Locations: New York, U.S, Charlottesville , Virginia, Europe, Britain, Beijing, Asia
The 10-year U.S. Treasury note rose 0.1 basis points to yield 1.5704%, at the bottom of a two-month range. Germany’s 10-year Bund yield was last up 0.2 basis points at -0.195, near one-month lows hit after Friday’s U.S. unemployment report. MSCI’s all-country world equity index rose 0.09% to 716.94. The benchmark for global equity markets is heavily weighted to the U.S. tech behemoths, half of which rose and the others fell. The European automobiles and parts index rose 0.9% to reach its highest since March 2015, extending a 5.3% rally from last week.
Persons: Brent, Christopher Smart, Smart, Joe Biden, Ed Moya, “ We’re, ” Moya, , MSCI’s Organizations: Organization of, Petroleum, U.S . Treasury, European Central Bank, Treasury, European, Microsoft Corp, Facebook, Apple Inc, Dow Jones, Nasdaq, London Metal Exchange, ECB, West Texas Intermediate, Brent, Nikkei, Electronics Locations: United States, European Union, New York, Europe, China, U.S, Asia, Pacific, Japan, Taiwan
MSCI'S ACWI ends at record, oil hits 2-year high
  + stars: | 2021-06-07 | by ( Herbert Lash | ) www.reuters.com + 0.00   time to read: +5 min
The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, June 3, 2021. MSCI's all-country world equity index (.MIWD00000PUS) gained 0.1%, marking its sixth record close in seven days, as stocks advanced on expectations of an economic rebound from the coronavirus pandemic. The 10-year U.S. Treasury note rose 0.1 basis point to yield 1.5704%, at the bottom of a two-month range. MSCI's ACWI index, a global benchmark for equity performance in 50 countries, closed at 717.00. The European automobiles and parts index (.SXAP) rose 0.9% to its highest level since March 2015, extending a 5.3% rally from last week.
Persons: Christopher Smart, Smart, Joe Biden, Ed Moya, Moya, MSCI's, Brent, Yuan Electronics Organizations: REUTERS, Staff, Organization of, Petroleum, U.S . Treasury, European Central Bank, Treasury, European, Microsoft Corp, Facebook Inc, Apple Inc, Amazon.com Inc, Dow Jones, Nasdaq, London Metal Exchange, ECB, West Texas Intermediate, Brent, Japan's Nikkei, Yuan, Thomson Locations: Frankfurt, Germany, United States, European Union, New York, Europe, China, U.S, Asia, Pacific, Japan, Taiwan
Stocks hover near record highs, oil hits two-year high
  + stars: | 2021-06-07 | by ( Herbert Lash | ) www.reuters.com + 0.00   time to read: +3 min
The 10-year U.S. Treasury note rose 0.4 basis points to yield 1.5636%, at the bottom of a two-month range. MSCI’s all-country world equity index fell 0.02% to 716.16. The benchmark for global equity markets is heavily weighted to the U.S. tech behemoths, half of which rose and the others fell. On Wall Street, the Dow Jones Industrial Average fell 0.4%, the S&P 500 lost 0.32% and the Nasdaq Composite added 0.04%. Gold prices firmed as the dollar retreated, with the dollar index down 0.2% while the euro was up slightly against the dollar, at $1.2196.
Persons: Christopher Smart, Smart Organizations: YORK, Organization of, Petroleum, U.S . Treasury, European Central Bank, Treasury, European, Microsoft Corp, Facebook, Apple Inc, Dow Jones, Nasdaq, Brent, Nikkei, Electronics Locations: United States, European Union, Asia, Pacific, Japan, Taiwan
Investors see Biden's 15% minimum tax offer as positive
  + stars: | 2021-06-03 | by ( Herbert Lash | ) www.reuters.com sentiment -0.98   time to read: +2 min
NEW YORK (Reuters) -Investors hailed U.S. President Joe Biden’s offer on Thursday to scrap his proposed 28% corporate tax hike as a move in the right direction and embraced the idea of a compromise that could allow an infrastructure and tax package to move through Congress. In return, Republicans would have to agree to at least $1 trillion in new infrastructure spending, versus the president’s original proposal for a $2.25 trillion package. Raising the global minimum rate on U.S. companies’ foreign income to 21% from 10.5% and the corporate tax rate to 28% from 21%, among other Biden tax proposals, would slash earnings per share by about 7.6% next year, Morgan Stanley said on Monday. Investors would welcome a compromise that allows the infrastructure and tax package to pass in Congress, said Rick Meckler, a partner at Cherry Lane Investments in New Vernon, New Jersey. Rob Sechan, managing partner and co-founder at Newedge Wealth in New York, said anything that is less than the expected 28% tax hike will help the market.
Persons: Joe Biden’s, Dado Ruvic, Biden, , Gary Bradshaw, Morgan Stanley, Rick Meckler, ” Meckler, Rob Sechan, Thomas Hayes, , ” Hayes Organizations: YORK, Investors, REUTERS, Democratic, Hodges Capital Management, Cherry Lane Investments, Capital Locations: Dallas, New Vernon , New Jersey, New York, headwind
Investors see Biden’s 15% minimum tax offer as positive
  + stars: | 2021-06-03 | by ( Herbert Lash | ) www.reuters.com sentiment -0.98   time to read: +2 min
REUTERS/Dado Ruvic/IllustrationInvestors hailed U.S. President Joe Biden’s offer on Thursday to scrap his proposed 28% corporate tax hike as a move in the right direction and embraced the idea of a compromise that could allow an infrastructure and tax package to move through Congress. In return, Republicans would have to agree to at least $1 trillion in new infrastructure spending, versus the president's original proposal for a $2.25 trillion package. Raising the global minimum rate on U.S. companies' foreign income to 21% from 10.5% and the corporate tax rate to 28% from 21%, among other Biden tax proposals, would slash earnings per share by about 7.6% next year, Morgan Stanley said on Monday. Investors would welcome a compromise that allows the infrastructure and tax package to pass in Congress, said Rick Meckler, a partner at Cherry Lane Investments in New Vernon, New Jersey. Rob Sechan, managing partner and co-founder at Newedge Wealth in New York, said anything that is less than the expected 28% tax hike will help the market.
Persons: Dado Ruvic, Joe Biden’s, Biden, Gary Bradshaw, Morgan Stanley, Rick Meckler, Meckler, Rob Sechan, Thomas Hayes, , ” Hayes Organizations: REUTERS, Investors, Democratic, Hodges Capital Management, Cherry Lane Investments, Capital, Thomson Locations: Dallas, New Vernon , New Jersey, New York, headwind
The breakeven rate on 10-year Treasury inflation-protected securities, or TIPS, fell to a session low of 2.44% after the auction of $13 billion in 10-year TIPS securities. The yield on benchmark 10-year Treasury notes fell 5.1 basis points to 1.632%. The yield on the 30-year Treasury bond was down 4.7 basis points to 2.340%. The 10-year TIPS breakeven rate was last at 2.457%, indicating the market sees inflation averaging just under 2.5% a year for the next decade. 2-year dollar swap 9.75 -0.25 spread U.S. 3-year dollar swap 11.75 0.50 spread U.S. 5-year dollar swap 8.75 1.25 spread U.S. 10-year dollar swap -3.00 1.00 spread U.S. 30-year dollar swap -30.00 1.75 spread (Reporting by Herbert Lash; editing by Barbara Lewis, Kirsten Donovan and Jonathan Oatis)
Persons: Herbert Lash NEW, Jim Vogel, Vogel, Steven Ricchiuto, Bond, Herbert Lash, Barbara Lewis, Kirsten Donovan, Jonathan Oatis Organizations: FHN, Herbert Lash NEW YORK, Treasury, Philadelphia Federal Reserve Bank, Mizuho Securities USA, Labor Department Locations: U.S, New York
Breakevens on 10-year Treausury inflation-protected securities, or TIPS, fell to a session low of 2.44% after the auction of $13 billion in 10-year TIPS securities. The yield on benchmark 10-year Treasury notes fell 4.9 basis points to 1.634% and the breakeven rate on five-year U.S. Treasury Inflation-Protected Securities (TIPS) slid to 2.59%. The yield on the 30-year Treasury bond was down 5.1 basis points to 2.3357%. The 10-year TIPS breakeven rate was last at 2.445%, indicating the market sees inflation averaging just under 2.5% a year for the next decade. 2-year dollar swap 9.75 -0.25 spread U.S. 3-year dollar swap 11.50 0.25 spread U.S. 5-year dollar swap 8.75 1.25 spread U.S. 10-year dollar swap -3.25 0.75 spread U.S. 30-year dollar swap -30.00 1.75 spread (Reporting by Herbert Lash; editing by Barbara Lewis, Kirsten Donovan)
Persons: Herbert Lash NEW, Steven Ricchiuto, We've, Ricchiuto, Bond, Herbert Lash, Barbara Lewis, Kirsten Donovan Organizations: Herbert Lash NEW YORK, Treasury, Philadelphia Federal Reserve Bank, Securities, Mizuho Securities USA, Labor Department Locations: U.S, New York
TREASURIES-U.S. yields jump on mere hint of Fed 'taper talk'
  + stars: | 2021-05-19 | by ( Herbert Lash | ) www.reuters.com + 0.00   time to read: +4 min
The mere hint of "taper talk" was enough to spark a sell-off in bonds and send stocks lower, said Patrick Leary, chief market strategist and senior trader at Incapital. The minutes suggested the beginning of a consensus among policymakers to lean more towards 'we should start this taper talk a little sooner rather than later,' Leary said. Earlier Treasury yields had fallen after digital currencies bitcoin and ethereum posted their biggest single-day plunge since March 2020. The yield on the 30-year Treasury bond was up 1.9 basis points to 2.383%. 2-year dollar swap 10.00 0.00 spread U.S. 3-year dollar swap 11.25 -0.25 spread U.S. 5-year dollar swap 7.75 -0.75 spread U.S. 10-year dollar swap -4.25 -0.50 spread U.S. 30-year dollar swap -31.75 0.25 spread (Reporting by Herbert Lash; additional reporting by Saqib Ahmed in New York, Editing by Barbara Lewis and Andrea Ricci)
Persons: Herbert Lash NEW, Patrick Leary, Leary, Treasuries, Michael Brown, Caxton, Brown, ethereum, Raphael Bostic, Louis, James Bullard, Bullard, Herbert Lash, Saqib Ahmed, Barbara Lewis, Andrea Ricci Organizations: Herbert Lash NEW YORK, Treasury, Federal, Fed, Atlanta Fed, Louis Fed, Bloomberg, Securities Locations: U.S, London, China, St, New York
The yield on 10-year Treasury notes was up 0.9 basis points at 1.649%, below a spike above 1.75% reached in late March. But breakeven rates rose, the difference in yield between inflation protected securities and nominal debt. "Forward breakevens are lower than spot breakevens, suggesting the market thinks inflation is going to rise then fall," he said. The 10-year TIPS breakeven rate was last at 2.554%, indicating the market sees inflation averaging 2.5% a year for the next decade. 2-year dollar swap 10.25 0.25 spread U.S. 3-year dollar swap spread 11.50 0.25 U.S. 5-year dollar swap spread 8.25 0.50 U.S. 10-year dollar swap -4.00 0.50 spread U.S. 30-year dollar swap -32.00 0.25 spread (Reporting by Herbert Lash; editing by Jonathan Oatis and Richard Chang)
Persons: Herbert Lash NEW, Subadra Rajappa, Rajappa, Guy LeBas, Janney Montgomery Scott, LeBas, homebuilding, Herbert Lash, Jonathan Oatis, Richard Chang Organizations: Herbert Lash NEW YORK, U.S, Treasury, Walmart Inc, Home, Societe Generale, Federal, Walmart, Commerce Department, Securities Locations: New York
The yield on 10-year Treasury notes was up 0.5 basis point to 1.654% as the longer-dated government debt edged slightly higher but the short end remained mostly unchanged. On the margin there are concerns about inflation, said Guy LeBas, chief fixed income strategist at Janney Montgomery Scott. The break-even rates fall very much in line with the Fed's transitory phrasing on inflation, he said. "Forward breakevens are lower than spot breakevens, suggesting the market thinks inflation is going to rise then fall," he said. The 10-year TIPS break-even rate was last at 2.557%, indicating the market sees inflation averaging 2.5% a year for the next decade.
Persons: Guy LeBas, Janney Montgomery Scott, LeBas, homebuilding, Herbert Lash, Jonathan Oatis Organizations: YORK, Treasury, Walmart, Home, Federal, Walmart Inc, Home Depot, Commerce Department, Securities Locations: New York
The yield on benchmark 10-year U.S. Treasury notes was up 2 basis points at 1.6%37, well below a spike to 1.77% in late March. The baseline view is that achieving maximum employment will not put undue pressure on prices, Clarida said. The yield on the 30-year Treasury bond fell 0.6 basis point to 2.3495%. The 10-year TIPS breakeven rate was last at 2.550%, indicating the market sees inflation averaging about 2.5% a year for the next decade. 2-year dollar swap 9.75 -1.00 spread U.S. 3-year dollar swap 11.25 -0.75 spread U.S. 5-year dollar swap 7.75 -0.75 spread U.S. 10-year dollar swap -4.50 -0.75 spread U.S. 30-year dollar swap -32.25 -0.75 spread (Reporting by Herbert Lash in New York Editing by Matthew Lewis and Alistair Bell)
Persons: Herbert Lash NEW, shrugging, Tom Simons, it's, Simons, Sebastien Galy, Richard Clarida, Clarida, Raphael Bostic, Herbert Lash, Matthew Lewis, Alistair Bell Organizations: Treasury, Herbert Lash NEW YORK, Empire, Manufacturing Survey, New York Fed, Jefferies, Co, Nordea Asset Management, Bond, Federal Reserve, Federal, Atlanta Fed, CNBC, Economics, Securities Locations: New York, mull, U.S
The yield on benchmark 10-year U.S. Treasury notes was up 2 basis points at 1.637%, well below a spike to 1.77% in late March. The baseline view is that achieving maximum employment will not put undue pressure on prices, Clarida said. The yield on the 30-year Treasury bond fell 0.6 basis point to 2.3495%. The 10-year TIPS breakeven rate was last at 2.550%, indicating the market sees inflation averaging about 2.5% a year for the next decade. 2-year dollar swap 9.75 -1.00 spread U.S. 3-year dollar swap 11.25 -0.75 spread U.S. 5-year dollar swap 7.75 -0.75 spread U.S. 10-year dollar swap -4.50 -0.75 spread U.S. 30-year dollar swap -32.25 -0.75 spread (Reporting by Herbert Lash in New York Editing by Matthew Lewis and Alistair Bell)
Persons: Herbert Lash NEW, shrugging, Tom Simons, it's, Simons, Sebastien Galy, Richard Clarida, Clarida, Raphael Bostic, Herbert Lash, Matthew Lewis, Alistair Bell Organizations: Herbert Lash NEW YORK, Treasury, Empire, Manufacturing Survey, New York Fed, Jefferies, Co, Nordea Asset Management, Bond, Federal Reserve, Federal, Atlanta Fed, CNBC, Economics, Securities Locations: New York, mull, U.S
TREASURIES-U.S. yields slip as weak data curb inflation fears
  + stars: | 2021-05-14 | by ( Herbert Lash | ) www.reuters.com + 0.00   time to read: +4 min
The weak retail sales curbed long-term fears of inflation, despite a solid increase in U.S. import prices in April that Labor Department data on Friday also showed. Part of the jump in year-over-year consumer price data this week reflected a comparison with weak readings a year ago during the economic downturn caused by the pandemic. "So if they say inflation is transitory, that means that it is probably going to accelerate." The yield on the 30-year Treasury bond was down 2.5 basis points to 2.362%. The 10-year TIPS break-even rate was last at 2.543%, indicating the market sees inflation averaging 2.5% a year for the next decade.
Persons: Herbert Lash NEW, Steven Ricchiuto, Ricchiuto, Loretta Mester, Jay Hatfield, Hatfield, Herbert Lash, Chuck Mikolajczak, Barbara Lewis, Nick Zieminski Organizations: Herbert Lash NEW YORK, Treasury, Commerce Department, Labor Department, Mizuho Securities LLC, Cleveland Fed, Bloomberg News, Infrastructure Capital Management, Securities Locations: U.S, New York, Thursday's
REFILE-TREASURIES-U.S. yields fall after weak retail sales data
  + stars: | 2021-05-14 | by ( Herbert Lash | ) www.reuters.com + 0.00   time to read: +3 min
The yield on benchmark 10-year U.S. Treasury notes fell 4 basis points to 1.628%. The unchanged reading in retail sales last month followed a 10.7% surge in March, an upward revision from the previously reported 9.7% increase, the Commerce Department said. The weak retail sales curbed long-term fears of inflation, despite a solid increase in U.S. import prices in April that Labor Department data on Friday showed. Part of the jump in year-over-year consumer price data reflected a comparison with weak readings a year ago during the economic downturn caused by the pandemic. The yield on the 30-year Treasury bond was down 3.4 basis points to 2.353%.
Persons: Herbert Lash NEW, Steven Ricchiuto, Loretta Mester, Chuck Mikolajczak, Barbara Lewis Organizations: Herbert Lash NEW YORK, Treasury, Commerce Department, Labor Department, Mizuho Securities LLC, Cleveland Fed, Bloomberg News, Securities Locations: U.S, New York
World stocks, commodities boom on U.S. weak jobs data
  + stars: | 2021-05-07 | by ( Herbert Lash | Ritvik Carvalho | ) www.reuters.com + 0.00   time to read: +5 min
Nonfarm payrolls increased by only 266,000 jobs last month.Data for March was revised down to show 770,000 jobs addedinstead of 916,000 as previously reported. Both indexes set new highs, as did Canada’s Toronto Stock Exchange 300 Composite Index, which rose 0.94% to 19472.74. For the week, the Dow rose 2.65%, the S&P500 1.23% and the Nasdaq slipped 1.51%. Overnight in Asia, MSCI’s broadest index of Asia-Pacific shares outside Japan rose about 0.4%, while Japan’s Nikkei gained about 0.2%. Brent crude futures rose 19 cents to settle at $68.28 a barrel, while U.S. crude futures gained 19 cents to settle at $64.90 a barrel.
Persons: tamped, Joe Biden, Gold, byReuters, , , Joseph LaVorgna, DAX, Issei Kato, Thomas Hayes, Boris Schlossberg Organizations: Treasury, Americas, Toronto Stock, CAC, Dow, Dow Jones, Nasdaq, U.S ., REUTERS, , Capital, Japan’s Nikkei, BK Asset Management, Brent Locations: U.S, Natixis, New York, Tokyo, Japan, Asia, Pacific, India, United States
Total: 25