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Raymond James upgrades Chipotle to strong buy after menu price hikes
  + stars: | 2021-06-14 | by ( Jesse Pound | ) www.cnbc.com + 0.77   time to read: 1 min
Customers order from a Chipotle restaurant at the King of Prussia Mall in King of Prussia, Pennsylvania. Chipotle Mexican Grill's higher menu prices won't scare away customers and will lead to better results in the quarters ahead, according to Raymond James. The company announced last week that it had hiked menu prices 4% to cover rising wages. Chipotle has also said it will raise its average hourly wage to $15 per hour by the end of June. Raymond James analyst Brian Vaccaro upgraded the restaurant stock to strong buy from outperform, saying that the company has room to raise prices and the move will boost its financial results.
Persons: King, King of Prussia, Raymond James, Chipotle, Brian Vaccaro Locations: Prussia, King, King of Prussia , Pennsylvania
Check out the companies making headlines before the bell:Novavax (NVAX) – The drugmaker said its Covid-19 vaccine proved 90% effective overall in a late-stage trial, and 93% effective against the most predominant variants of the virus. Phillips (PHG) – Phillips shares slid 4.3% in premarket action after saying it would recall up to 4 million CPAP machines due to potential toxicity risks. Chipotle shares gained 1.4% in the premarket. Shares gained 2% in premarket trading. NextGen shares gained 1.9% in the premarket.
Persons: Steve Burns, Julio Rodriguez, Lordstown, Burns, Rodriguez, Phillips, – Phillips, – Raymond James, Ferrari, – Goldman Sachs, Marco Cavaleri, Oatly, Oppenheimer, Morgan Stanley, Piper Sandler, Jefferies, JPMorgan Chase, Cristiano Amon, Equinix, – Equinix, Sir Richard Branson's Virgin, Sky, NextGen Organizations: Lordstown Motors, Grill, GlaxoSmithKline, GSK, iTeos Therapeutics, AstraZeneca, European Medicines, Royal, Shell, Reuters, Credit Suisse, Guggenheim, JPMorgan, RBC, Qualcomm, Nvidia, Sir Richard Branson's Virgin Orbit, Sky News, Virgin Locations: Texas
Jim Cramer on Raymond James upgrading Chipotle amid inflation fears
  + stars: | 2021-06-14 | by ( ) www.cnbc.com sentiment -0.54   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJim Cramer on Raymond James upgrading Chipotle amid inflation fearsRaymond James upgraded Chipotle, saying it had a “strong value proposition." CNBC's Jim Cramer and Scott Wapner discuss.
Persons: Jim Cramer, Raymond James, Chipotle, CNBC's Jim Cramer, Scott Wapner
Lordstown Motors — The electric truck maker's stock fell more than 15% midday after announcing CEO Steve Burns and CFO Julio Rodriguez resigned. Oatly — Shares of the oat milk company dipped about 4.8% after a number of Wall Street firms began coverage of the stock. Square — Shares of the payments company rose over 4% after Deutsche Bank reiterated its buy rating on the stock. The Wall Street firm said the company has room to raise prices and the move will boost its financial results. Royal Dutch Shell – The energy stock traded about 2% higher as Royal Dutch Shell is reportedly considering a sale of shale assets in Texas.
Persons: Steve Burns, Julio Rodriguez, Lordstown, Morgan Stanley, Oppenheimer, Piper Sandler, Raymond James, Chipotle, Goldman Sachs, Shell, ContextLogic, , Jesse Pound, Maggie Fitzgerald, Pippa Stevens, Yun Li, Tanaya Macheel Organizations: Lordstown Motors, Wall Street, JPMorgan, Jefferies, Jefferies , Credit Suisse, Deutsche Bank, Philips — Philips, Ferrari —, Royal, Shell, , AMC Entertainment, Clean Energy Fuels, BlackBerry, Bed, GameStop, Clover Health Locations: Brooklyn, New York, U.S, Jefferies ,, Mexican, Texas
Chipotle is a strong buy says Raymond James
  + stars: | 2021-06-14 | by ( ) www.cnbc.com + 0.99   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChipotle is a strong buy says Raymond JamesThe "Halftime Report" traders debate the biggest analyst calls of the day.
Persons: Raymond James The
Credit Suisse has hired HSBC's Truls Engebretsen as a senior credit trader. Engebretsen, previously US head of investment grade credit, rejoins Credit Suisse after nearly 10 years away, according to FINRA records seen by Insider. Engebretsen, previously US head of investment grade credit, rejoins Credit Suisse after nearly 10 years away, according to FINRA records seen by Insider. Christopher Dawe , previously co-head of private investments at Goldman Sachs, will lead Private Capital's technology and consumer growth equity business. Meg McClellan will lead private debt.
Persons: Alice Milligan, Morgan Stanley, Andy Saperstein, Milligan, Audrey Choi, Choi, Chad Turner, Mike Curcio, HSBC's Truls, Christopher Bathon, Mike Malloy, Marshall Peters, HSBC's, Cowen, Jenny Killeen, Michael S, Raymond James, Ryan Kaeding, Kaeding, Piper Sandler, Katherine Fogertey, Fogertey, Goldman Sachs, Deborah Bussière, Christopher Dawe, Osei Van Horne, Van Horne, Brian Carlin, Rick Smith, Meg McClellan, Anton Pil, Ben Darsney, Justin Smolkin, Jeff Bunzel, Darsney, Smolkin, Michael Lattarulo, Meredith Mazzilli, Rebecca Ungarino, Carter Johnson, Reed Alexander, Alex Morrell Organizations: intel, Trade, Credit Suisse, HSBC, MSD, Broadridge Financial, JPMorgan, Wells Fargo, JPMorgan Private Capital, Goldman, Wells, Private, Deutsche Bank Locations: Americas
The European Central Bank kept stimulus taps wide open at its meeting. MSCI's index of EM currencies was flat with Brazil's real reversing early gains as attention turned to next week's central bank meeting. Mexico's peso erased early losses after a reshuffle of the central bank governor and finance minister on Wednesday, to rise 0.2%. Mexican Finance Minister Arturo Herrera was tapped on Wednesday by President Andres Manuel Lopez Obrador to lead the central bank, while economist Rogelio Ramirez de la O, a close ally, was appointed finance minister. Chile's peso edged higher after a central bank poll showed the Chilean economy surged 15.2% in May and 14.7% in the second quarter.
Persons: Susan Mathew, Shreyashi Sanyal, Pedro Castillo, Keiko Fujimori, Scott Brown, Raymond James, Jair Bolsonaro, Stocks, Arturo Herrera, Andres Manuel Lopez Obrador, Rogelio Ramirez de la, Socialist Castillo, Fujimori, Nick Macfie, Alistair Bell Organizations: Markets, Federal Reserve, European Central Bank, Mexican Finance, Citi Research, Socialist, Mexico IPC, Argentina MerVal, Colombia COLCAP, Chile Locations: Florida, Sao Paulo, Chilean, Brazil, Mexico, Chile, Argentina, Colombia, Peru, Bengaluru
The Labor Department said its consumer price index increased 0.6% last month after surging 0.8% in April. The labor market and inflation are two key factors for the Fed to consider tightening, and while inflation has risen, recent payrolls data was underwhelming. ET, the Dow Jones Industrial Average (.DJI) was up 230.84 points, or 0.67%, at 34,677.98, the S&P 500 (.SPX) was up 27.27 points, or 0.65%, at 4,246.82. read moreAdvancing issues outnumbered decliners by a 2.55-to-1 ratio on the NYSE and a 2.17-to-1 ratio on the Nasdaq. The S&P index recorded 38 new 52-week highs and no new low, while the Nasdaq recorded 58 new highs and six new lows.
Persons: Mike Segar, Mark Grant, Scott Brown, Raymond James Organizations: New York Stock Exchange, REUTERS, Federal Reserve, Labor Department, CPI, Riley Financial, Fed, Dow Jones, Nasdaq, Clover Health, AMC, GameStop Corp, Securities and Exchange Commission, Boeing, Reuters United Airlines, Airbus, NYSE, Thomson Locations: Manhattan, New York City , New York, U.S, St . Petersburg , Florida
All of it has meant plenty of work for fintech bankers. Still, there are plenty of banks making waves in the fintech space. But the role ESG plays in financial technology has become more pronounced in recent months. Kelly Galanis, Goldman SachsRole: Head of financial technology investment banking, AmericasDeals worked on: Shift4 Payments IPO; Duck Creek IPO; Lemonade IPOKelly Galanis. Houlihan LokeyFintech has become such a massive industry that some investment bankers are building entire practices based solely on smaller subsectors with big potential.
Persons: dealmakers, Dealogic, fintech IPOs, fintech, Rick Diamond, Citigroup Rick Diamond, Diamond, Jonathan Dubroff, Jonathan Dubroff's, Dubroff, SG, Dubroff's, He's, fintechs, we've, Kelly Galanis, Goldman Sachs, megadeals, what's, Galanis, COVID, Kegan Greene, Houlihan Lokey, Thomas H, Insurance Technologies Kegan Greene, Houlihan Lokey Fintech, I've, Greene, Houlihan Lokey's, Jason Gurandiano, Foley, Gurandiano, Brennin Kroog, Kroog, It's, Keefe, Keith Meyers, eMBS Keith Meyers, KBW, it's, Meyers, You've, Raymond James, Ben Tompkins, Jigar Patel, Morgan Stanley, Patel, Morgan Stanley's, Matthew Sharnoff, Bill Me, Bank of America Matthew Sharnoff, Sharnoff, Merrill Lynch, Nate Stulman, PJ Solomon, PJ Solomon Nate Stulman, Stulman, Stifel Ben Tompkins, Tompkins, Henry Ansbacher, Jefferies, Draper, Stifel, there's, Tommaso Zanobini, Bloomberg Tommaso Zanobini, Zanobini, they've Organizations: Street, FIG, fintech, Citigroup, Transaction Services, ESG, BMO Capital, Delta Card Services, First Data Corporation, Deloitte, SG Cowen, BMO Capital Markets, Barclays, Shift4, Insurance Technologies Kegan, RBC Capital, RBC Capital Markets, Deutsche Bank, Credit Suisse, Lazard, Visa, Plaid, T Bank, People's, Corp, Morgan Keegan & Company, Stifel, Capital, ING, USA, Bank of America, Interactive, Vista Equity Partners, TD Bank, American Express, CIBC, TD, Nordstrom, Moelis, Greenhill & Co, Broadview International, Eden Ventures, Draper Esprit, IB, America, Banco Santander S.A, Trebia, Bloomberg, Lehman Brothers, Deutsche Bank —, & $ Locations: fintech, Europe, Latin America, India, Asia, Atlanta, SPACs, Americas, American, Canadian, BankMobile, York, London, KBW, New York, Pacific, America, Synchrony, Moelis
The yield on the 10-year note was down 3.4 basis points at 1.4941% in afternoon trading, after reaching as low as 1.472% earlier in the session. The move also pulled down a closely watched part of the U.S. Treasury yield curve measuring the gap between yields on two- and 10-year notes, seen as an indicator of economic expectations. Strong CPI data a month ago helped push the yield on the 10-year to 1.707% in mid-May, but investors don't seem so concerned about inflation now. Helping drive the move lower in yields overnight was a big buyer of ultra-long Treasury futures around 4 a.m. The 10-year yield dipped from 1.52% to around 1.50% on the purchase, said Brenner.
Persons: Ross Kerber, Lou Brien, Raymond James, Ellis Phifer, Phifer, Joe Biden, Andrew Brenner, Brenner, Kate Duguid, Bernadette Baum, Emelia, Jonathan Oatis Organizations: Treasury, U.S, DRW, U.S . Bureau of Labor, Republican, NatAlliance Securities Locations: Washington, U.S, U.S . Federal, New York, Boston
The yield on the 10-year note was last down 5.4 basis points at 1.4739% in morning trading. The move also pulled down a closely watched part of the U.S. Treasury yield curve measuring the gap between yields on two- and 10-year notes, seen as an indicator of economic expectations. The 10-year yield dipped from 1.52% to around 1.50% on the purchase, said Brenner. The two-year U.S. Treasury yield, which typically moves in step with interest rate expectations, was down less than a basis point at 0.1468%. The 10-year TIPS yield was at -0.87% and the breakeven inflation rate was at 2.349% after touching its lowest since late April.
Persons: Ross Kerber, Raymond James, Ellis Phifer, Phifer, Joe Biden, Andrew Brenner, Brenner, Kate Duguid, Bernadette Baum, Emelia Organizations: Treasury, U.S, U.S . Bureau of Labor, Republican, NatAlliance Securities Locations: Washington, U.S, New York, Boston
Monitors display Coinbase signage during the company's initial public offering (IPO) at the Nasdaq MarketSite in New York, on Wednesday, April 14, 2021. Coinbase may be one of the leading trading platforms in a new asset class, but it will face the same struggles as traditional brokerage firms, according to Raymond James. Analyst Patrick O'Shaughnessy initiated coverage of the crypto exchange with an underperform rating, making him the only major analyst with a sell-equivalent rating on the stock, according to FactSet. O'Shaugnessy said in a note to clients on Wednesday that strong competition for Coinbase is inevitable and will hold down the stock.
Persons: Raymond James, Patrick O'Shaughnessy, O'Shaugnessy Organizations: Nasdaq, Coinbase Locations: New York
In this photo illustration, the Interactive Brokers LLC logo seen displayed on a smartphone. "Customers certainly are asking for [crypto trading] and we expect to be ready to offer it to them by the end of the summer," Interactive Brokers Chairman and CEO Thomas Peterffy said Wednesday at the Piper Sandler Global Exchange & FinTech Conference. Rival brokers Fidelity and Charles Schwab don't offer direct crypto trading on their platforms, but do offer some access to some related funds. Interactive Brokers offering bitcoin trading will further lower the barrier to entry for individual investors to access the digital assets. As of the first quarter of 2021, Interactive Brokers had 1.33 million customer accounts and $330.6 billion in customer equity.
Persons: Elon Musk, Thomas Peterffy, Piper Sandler, , Charles Schwab, Raymond James Organizations: Interactive, Piper, Piper Sandler Global, FinTech Conference, Colonial Pipeline, Interactive Brokers, Fidelity, Coinbase Locations: bitcoin, China
Brady's signed rookie card sells for record-breaking $3 million
  + stars: | 2021-06-06 | by ( ) www.reuters.com + 0.99   time to read: +1 min
Mandatory Credit: Mark J. Rebilas-USA TODAY SportsAn autographed Tom Brady rookie card printed in 2000 sold for a record $3.107 million at the Lelands Mid-Spring Classic auction on Saturday, two months after a similar card was picked up for $2.25 million. The seven-times Super Bowl champion is widely considered one of the greatest ever to play the game. "It's only fitting that Brady has set another record for the most expensive football card ever sold in public auction." An "ultra-rare" signed rookie card for four-times NBA star LeBron James sold for $5.2 million in April, breaking the record for the most expensive basketball card ever sold. It also equalled the record for any sports trading card, matching the amount paid for a 1952 rookie card for baseball great Mickey Mantle.
Persons: Tom Brady, Vince Lombardi, Raymond James Stadium, Mark J, Brady, Jordan Gilroy, LeBron James, Mickey Mantle Organizations: Tampa Bay Buccaneers, Kansas City Chiefs, Super, Raymond, New England Patriots, NBA, Thomson Locations: Tampa, FL, USA, Lelands
Exxon Mobil Activist Victory Isn’t Really All About Climate
  + stars: | 2021-06-03 | by ( Jinjoo Lee | ) www.wsj.com sentiment -1.00   time to read: +2 min
1’s victory over Exxon Mobil Corp. in a proxy fight last week was seen as further proof that investors are starting to take climate risk very seriously. Instead, it seems to be more of a pointed slap on Exxon management’s wrist for how out of touch it has been with its investors. Last week, Engine No. The main takeaway—both on its website and on its 82-slide presentation to investors—is that the supermajor isn’t earnestly addressing the risk. So the battle isn’t about choosing one distinct climate strategy over another but the perception that Exxon doesn’t have any at all.
Persons: Greg Goff, Kaisa, — Alexander Karsner —, Paul Sankey, Sankey, , hasn’t, , Thomas DiNapoli, , Pavel Molchanov, Raymond James, ” Rather, Anne Simpson, Neil Mehta, Goldman Sachs, Darren Woods Organizations: Exxon Mobil Corp, Exxon, Sankey Research, Exxon Mobil, New York, Exxon doesn’t, Wall Street Locations: Calpers
Low tax stocks slide after report that Biden pushes a 15% minimum corporate rate
  + stars: | 2021-06-03 | by ( Patti Domm | In | ) www.cnbc.com sentiment -1.00   time to read: +2 min
Strategists said the proposed 15% minimum tax is not a new idea and was already sought by the administration. Republicans have opposed the Biden plan to increase the corporate tax rate from its current level of 21%, which was approved by the GOP in 2017. The report said that President Joe Biden still wants to raise the corporate tax rate, but that may be now discussed outside of the infrastructure negotiations. The minimum levy is viewed as a so-called "Amazon tax," aimed at ensnaring profitable companies that pay low corporate tax rates. Qualcomm paid a tax rate of 17% but it paid at a 5.7% rate in the prior quarter, he noted.
Persons: Biden, Joe Biden, Ed Mills, Raymond James, Peter Boockvar, It's, Boockvar, Evercore Organizations: Amazon, Qualcomm, Micron, Washington Post, Republican, Republicans, GOP, Bleakley, Netflix, NVIDIA Locations: Washington
Senate Minority Leader Mitch McConnell warned that Biden's recent budget announcement "would drown American families in debt, deficits and inflation." Instead, Biden's American Jobs Plan and American Families Plan are long-term investments aimed at combating the worker shortage, boosting productivity and easing inequality. But even before the pandemic, childcare costs were a major headache for families. For many parents, it simply made more financial sense to stay home rather than pay exorbitant childcare costs. That's why childcare support receives the most funds in Biden's American Families Plan, which calls for families earning less than 150% of their state's median income to spend no more than 7% of their income on childcare.
Persons: Joe Biden, Mitch McConnell, it's, Mark Zandi, I'm, Joe Brusuelas, Biden, Brusuelas, Moody's, Gus Faucher, Faucher, Ed Mills, Raymond James, Greg Valliere, Valliere, Mills, Kristina Hooper Organizations: CNN, Republicans, Jobs Plan, American, Moody's, CNN Business, RSM, White, American Jobs Plan, United States, Manufacturers, US Chamber of Commerce, Labor, Families, PNC, AGF Investments, Federal Reserve Locations: York, Washington, United, America
Mandatory Credit: Kim Klement-USA TODAY SportsThe National Football League (NFL) said on Wednesday it was "committed to eliminating race-based norms" in its $1 billion settlement program with former players over brain injuries. "Everyone agrees race-based norms should be replaced, but no off-the-shelf alternative exists and that's why these experts are working to solve this decades-old issue," NFL spokesman Brian McCarthy said in a written statement. "The replacement norms will be applied prospectively and retrospectively for those players who otherwise would have qualified for an award but for the application of race-based norms." The NFL spokesman said the diagnostic testing in the program relied on "independent professionals" using methodology "developed by leading medical and scientific experts." The NFL Players Association did not have immediate comment.
Persons: Raymond James Stadium, Kim Klement, Christopher Seeger, Kevin Henry, Najeh Davenport, Brian McCarthy, Seeger Organizations: NFL, Tampa Bay Buccaneers, Kansas City Chiefs, Raymond, National Football League, ABC, Reuters, NFL Players Locations: Tampa, FL, USA
TREASURIES-Yields end the day little moved by manufacturing data
  + stars: | 2021-06-01 | by ( Kate Duguid | ) www.reuters.com + 0.00   time to read: +3 min
The two-year yield , which reflects expectations of interest-rate rises, was up less than half a basis point on the day at 0.147%. The yield curve was still modestly steeper on Tuesday afternoon, but had narrowed from earlier highs as the market digested the manufacturing data. While economic data has shown signs that reopening is driving growth, the labor market recovery has been less established. The fed funds rate fell to 0.05% on Friday, the lowest since April 30, owing primarily to month-end rebalancing. The fed funds rate is reported the following day at 9 a.m.
Persons: , Ellis Phifer, Raymond James ., Ian Lyngen, ” Lyngen, Kate Duguid, Chizu Nomiyama, Mark Heinrich Organizations: U.S, Treasury, New, Institute for Supply Management, Federal Reserve, ISM, Bureau of Labor Statistics, BMO Capital Markets, Federal Locations: York, New York, Friday’s, U.S
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSPACs have benefits for companies and investors — and are here to stay, investment banker saysJim Bunn, head of global equities and investment banking at Raymond James Financial, discusses the outlook for SPACs and M&A activity.
Persons: Jim Bunn, Raymond James Financial Organizations: Raymond
"An utterly crushing day for Big Oil," Bill McKibben, author and founder of the grassroots climate campaign 350.org, said on Wednesday via Twitter. "And all three of the headlines — pertaining to Exxon, Chevron, and Shell — shared a common theme: climate risk." In Europe, a Dutch court ruled Shell must reduce its carbon emissions by 45% by 2030 from 2019 levels. The court ruling also said Shell is responsible for its own carbon emissions and those of its suppliers, known as Scope 3 emissions. A sign is posted in front of a Chevron gas station on July 31, 2020 in Novato, California.
Persons: Peter Boer, Bill McKibben, Raymond James, Shell —, Darren Woods, CNBC's, Woods, Mark van Baal, Shell, Tom Cummins, Ashurst, Cummins, Justin Sullivan Organizations: Royal Dutch Shell Plc, Bloomberg, Getty, U.S, ExxonMobil, Chevron, Royal, Shell, Big Oil, Twitter, Exxon, Paris Accord, Investors, CNBC Locations: The Hague, Netherlands, Paris, Exxon's, Europe, Shell, Chevron, Novato , California
Investors are becoming less enthusiastic about EV startups that merged with SPACs. Earlier this year, experts predicted that the surge in electric-vehicle startups going public through mergers with special-purpose acquisition companies, or SPACs, was creating a bubble. It may, though, mark a decline from the peak of investor enthusiasm for SPACs and EV startups. EV companies fall into the "growth" bucket. Big Auto's looking betterAs they begin to doubt EV startups, investors may be changing their tune on the established automakers they were less enthusiastic about in 2020, Hussain said.
Persons: they'll, Nikola, VectoIQ, Canoo, they're, Asad Hussain, Fisker, Avinash Rugoobur, Raymond James, Pavel Molchanov, Molchanov, Boon Sim, Hussain, Ford, EVs, Ford's, Michael Cogley Organizations: SPACs, EV, General Motors, Ford, Lordstown, Securities, Exchange Commission, Churchill Capital Group IV, Lucid Motors, Vanguard, Artius Capital Partners, Giants, Volkswagen, GM Locations: Europe
MILAN/LONDON (Reuters) - European stocks look set to hold around or inch just above current record levels as the initial boost stemming from the region’s V-shaped recovery after the COVID-19 downturn loses momentum, a Reuters poll found. European corporates are still set for more quarters of double-digit profit growth, as economies reopen and Brussels pumps more support through its huge post-pandemic recovery fund. “The key is seeing reopening progress across Europe combined with global COVID-19 improvement,” said Chris Bailey, European strategist at Raymond James. European stocks have so far this year outperformed the MSCI’s global stock index, which is up approaching 10% year to date. They are also light on tech and growth stocks for which investors are reluctant to pay hefty premiums amid buoyant economic activity and rising interest rates.
Persons: , Tomas Hildebrandt, Chris Bailey, Raymond James, Marco Vailati, Vailati, Monday’s, Germany’s, DAX Organizations: MILAN, REUTERS, Staff, Evli Bank, IHS, Lombarda, CAC Locations: Frankfurt, Germany, Brussels, United States, Helsinki, Union, Europe, European, Milan
The benchmark 10-year Treasury yield fell to a two-week low of 1.56% and was last down 4 basis points at 1.562%. The 30-year yield, which tumbled to its lowest since May 7 at 2.255%, was last 4 basis points lower at 2.256%. "Overall, the stats generated by the auction were very, very strong," Tom Simons, money market economist at Jefferies, wrote in a market report. The two-year Treasury yield was last down 1 basis point at 0.143%. The yield curve flattened for a fourth straight session, as investors bought the long end of the curve on the view that price pressures would be stable for the rest of the year.
Persons: Gertrude Chavez, Dreyfuss, Karen Pierog, Tom Simons, Governor Lael Brainard, Jerome Powell, Ellis Phifer, Raymond James, Mark Heinrich, Steve Orlofsky, Andrea Ricci Organizations: Treasury, Jefferies, U.S . Federal, Governor, Fed Locations: Memphis , Tennessee, New York, Chicago
The benchmark 10-year Treasury yield fell to its lowest level since May 10 at 1.564% following the auction. It was last down 4.1 basis points at 1.5672%. The 30-year yield, which tumbled to its lowest since May 7 at 2.263%, was last 3.6 basis points lower at 2.2654%. The two-year Treasury yield, which typically moves in step with interest rate expectations, was last down less than a basis point at 0.1453%. A closely watched part of the yield curve that measures the gap between yields on two- and 10-year Treasury notes was last 3.17 basis points flatter at 141.82 basis points.
Persons: Gertrude Chavez, Dreyfuss, Karen Pierog, Tom Simons, Governor Lael Brainard, Jerome Powell, Ellis Phifer, Raymond James, Mark Heinrich, Steve Orlofsky Organizations: Treasury, Jefferies, U.S . Federal, Governor, Fed Locations: Memphis , Tennessee, York, New York, Chicago
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