Treasuries climb as Wall Street slips from records

Monday, 15. July 2019 17:19

Markets favored the most widely tracked sovereign debt securities on Monday and the buying wave pushed their yields substantially lower. Notes and bonds issued by the United States Department of the Treasury weren't the exception, rising during early trade in stocks in New York. Major equity indexes retreated from record highs, reached on the opening bell, as traders took profits after a week with a strong rally.

Oil reversed gains on uncertainty regarding bilateral trade talks between the US and China as rumors in the news indicated Secretary of Commerce Wilbur Ross could be fired by President Donald Trump. The corporate earnings season is heating up as Citigroup came in with upbeat numbers attributed to consumer lending as the first major player.

The yield on the two-year Treasury notes weakened 1.6 basis points to 1.841% at 11:18 am ET. The ten-year rate dropped 3.1 points to 2.093% compared to the fall of 2.9 points to 2.619% for the 30-year maturities. Corresponding futures prices advanced 0.01%, 0.15% and 0.39%, respectively.

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