Treasuries dip as stocks rise on data, earnings

Tuesday, 16. April 2019 17:22

Rating upgrades for some of the major companies and a slight strengthening in optimism among house builders in the United States underpinned equities on Wall Street on Tuesday, sending government debt securities moderately lower. The rise in Treasuries was stronger for longer maturities, which means yields fell and the curve steepened. Risk appetite rose moderately with initial earnings for the first quarter coming above expectations, though bank revenues surprised to the downside. Precious metals, another benchmark safe haven, also dipped.

The two-year US note yield gained 0.9 basis points to 2.402% at 11:20 am ET. The ten-year rate jumped 2.8 points to 2.58% and the yield on the 30-year bonds rose 1.5 points to 2.985%. Corresponding futures prices dipped 0.01%, 0.18% and 0.3%, respectively. German and British sovereign bonds were little changed.

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