Treasuries drop on better risk appetite

Friday, 01. March 2019 15:36

As results of a private survey showed the manufacturing sector in China almost stopped contracting last month and the most widely watched core inflation reading in the United States stayed at a solid 1.9% for December, stocks on Wall Street rallied on Friday and traders sold off safe haven assets. Prices of debt issued by the Department of the Treasury in Washington continued to drop for a third day in a row, translating to a jump in yields.

German unemployment held at a record low, with a surprisingly strong decline in jobless claims, which underpinned equities in Europe together with a rebound in retail sales in the country. Precious metals were mostly down. German government bonds also fell.

The two-year US note yield was moderately higher at 2.528% at 9:32 am ET. The ten-year measure surged 2.5 basis points to 2.743%, compared to a jump of 2.3 points to 3.105% for the 30-year maturity. Corresponding futures dropped 0.07%, 0.18% and 0.3%, respectively.

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