Fleursdumal
फूल की बुराई
qui stanno a suonà tutte le campane , hanno eletto il papa?
BUND, T-BRONX, T-NOTE ... e compagnia bella (V.M. 78 Anni)
- Creatore Discussione ditropan
- Data di Inizio
gastronomo
Forumer storico
US Treasuries rally, yields hit two-month lows
Tue Apr 19, 2005 12:01 PM ET
(Adds GM reaction, recasts, updates prices)
By Wayne Cole
NEW YORK, April 19 (Reuters) - U.S. Treasury debt prices climbed on Tuesday, sending yields to two-month lows, as a soft reading on producer prices offered relief from inflation fears.
Dealers also reported a flight-to-quality bid into Treasuries and out of corporate bonds after General Motors Corp.(GM.N: Quote, Profile, Research) posted a $1.1 billion quarterly loss, its worst since 1992. The huge loss stirred fears the world's largest car maker's debt could soon be downgraded to junk status.
"The rally is consistent with a lessening in inflation concerns and an aversion to risk after the GM news," said Sadakichi Robbins, head of global fixed-income trading at Bank Julius Baer.
Robbins noted that traders who had just weeks ago been betting that yields were heading higher had been caught off guard and were now forced to start buying Treasuries.
Benchmark 10-year yields dived over 30 basis points last week alone as poor readings on retail sales and consumer sentiment stirred talk the economy may have hit a soft patch.
Late Tuesday morning the 10-year note (US10YT=RR: Quote, Profile, Research) had added another 15/32 in price, lowering yields to 4.22 percent from 4.27 percent on Monday.
The 30-year bond (US30YT=RR: Quote, Profile, Research) climbed over a full point in price, while its yield dropped to two-month lows of 4.54 percent, from 4.61 percent on Monday.
Traders noted some investors were selling short-dated debt and buying longer-term paper in a bet the yield curve would continue to flatten. The gap between two- and 10-year yields thus narrowed 3 basis points to 70 basis points.
Two-year Treasury notes (US2YT=RR: Quote, Profile, Research) were up 2/32 in price, taking their yield to 3.51 percent from 3.54 percent. Five-year notes (US5YT=RR: Quote, Profile, Research) rose 7/32, lowering yields to 3.86 percent from 3.91 percent,
The latest rally began after core U.S. producer prices proved more benign than many feared. Producer prices rose 0.7 percent overall in March, just above median forecasts for a 0.6 percent gain. However, the core measure excluding food and energy rose only 0.1 percent when analysts had looked for a 0.2 percent rise.
The core measure is considered more important for monetary policy and added to speculation the Federal Reserve would not have to be more aggressive in raising interest rates.
"On the whole this will assuage some of the concern that's been bubbling up about inflation since the start of the year and should keep the Fed on its measured path for now," said Richard Dekaser, chief economist at National City Corp. in Cleveland.
Only a couple of weeks ago many in the market had been talking about the risk of the Fed accelerating its rate hikes and maybe raising rates by 50 basis points in June.
Since then, the futures market (0#FF:: Quote, Profile, Research) had all but priced out the chance of a half-point hike and trimmed expectations for how high rates would be at the end of the year.
There were other hints of economic softness on Tuesday. The Redbook measure of chain store sales showed sales so far in April running 3.8 percent below March, a performance Redbook termed "disappointing".
Housing starts slumped 17.6 percent in March, while permits fell 4.0 percent. Analysts, though, suspected the drop was just a correction from previous strength and argued against taking the pullback too seriously.
Still to come on Tuesday are speeches by three Fed officials. Fed Bank of New York President Timothy Geithner speaks on "Financial Integration And Its Implications For International Cooperation" around 1:20 p.m. (1720 GMT).
Fed Bank of St. Louis President William Poole speaks on "Staying Out of the Way of Entrepreneurs" at about 1:30 p.m. (1730 GMT). Finally, Fed Bank of Cleveland President Sandra Pianalto speaks on "Monetary Policy" around 7:15 p.m. (2315 GMT).
© Reuters 2005. All Rights Reserved.
Tue Apr 19, 2005 12:01 PM ET
(Adds GM reaction, recasts, updates prices)
By Wayne Cole
NEW YORK, April 19 (Reuters) - U.S. Treasury debt prices climbed on Tuesday, sending yields to two-month lows, as a soft reading on producer prices offered relief from inflation fears.
Dealers also reported a flight-to-quality bid into Treasuries and out of corporate bonds after General Motors Corp.(GM.N: Quote, Profile, Research) posted a $1.1 billion quarterly loss, its worst since 1992. The huge loss stirred fears the world's largest car maker's debt could soon be downgraded to junk status.
"The rally is consistent with a lessening in inflation concerns and an aversion to risk after the GM news," said Sadakichi Robbins, head of global fixed-income trading at Bank Julius Baer.
Robbins noted that traders who had just weeks ago been betting that yields were heading higher had been caught off guard and were now forced to start buying Treasuries.
Benchmark 10-year yields dived over 30 basis points last week alone as poor readings on retail sales and consumer sentiment stirred talk the economy may have hit a soft patch.
Late Tuesday morning the 10-year note (US10YT=RR: Quote, Profile, Research) had added another 15/32 in price, lowering yields to 4.22 percent from 4.27 percent on Monday.
The 30-year bond (US30YT=RR: Quote, Profile, Research) climbed over a full point in price, while its yield dropped to two-month lows of 4.54 percent, from 4.61 percent on Monday.
Traders noted some investors were selling short-dated debt and buying longer-term paper in a bet the yield curve would continue to flatten. The gap between two- and 10-year yields thus narrowed 3 basis points to 70 basis points.
Two-year Treasury notes (US2YT=RR: Quote, Profile, Research) were up 2/32 in price, taking their yield to 3.51 percent from 3.54 percent. Five-year notes (US5YT=RR: Quote, Profile, Research) rose 7/32, lowering yields to 3.86 percent from 3.91 percent,
The latest rally began after core U.S. producer prices proved more benign than many feared. Producer prices rose 0.7 percent overall in March, just above median forecasts for a 0.6 percent gain. However, the core measure excluding food and energy rose only 0.1 percent when analysts had looked for a 0.2 percent rise.
The core measure is considered more important for monetary policy and added to speculation the Federal Reserve would not have to be more aggressive in raising interest rates.
"On the whole this will assuage some of the concern that's been bubbling up about inflation since the start of the year and should keep the Fed on its measured path for now," said Richard Dekaser, chief economist at National City Corp. in Cleveland.
Only a couple of weeks ago many in the market had been talking about the risk of the Fed accelerating its rate hikes and maybe raising rates by 50 basis points in June.
Since then, the futures market (0#FF:: Quote, Profile, Research) had all but priced out the chance of a half-point hike and trimmed expectations for how high rates would be at the end of the year.
There were other hints of economic softness on Tuesday. The Redbook measure of chain store sales showed sales so far in April running 3.8 percent below March, a performance Redbook termed "disappointing".
Housing starts slumped 17.6 percent in March, while permits fell 4.0 percent. Analysts, though, suspected the drop was just a correction from previous strength and argued against taking the pullback too seriously.
Still to come on Tuesday are speeches by three Fed officials. Fed Bank of New York President Timothy Geithner speaks on "Financial Integration And Its Implications For International Cooperation" around 1:20 p.m. (1720 GMT).
Fed Bank of St. Louis President William Poole speaks on "Staying Out of the Way of Entrepreneurs" at about 1:30 p.m. (1730 GMT). Finally, Fed Bank of Cleveland President Sandra Pianalto speaks on "Monetary Policy" around 7:15 p.m. (2315 GMT).
© Reuters 2005. All Rights Reserved.
gastronomo
Forumer storico
Fleursdumal ha scritto:
Si, fumata bianca, non si sa ancora chi sia
Fleursdumal
फूल की बुराई
f4f ha scritto:no, è che sei suonato te ....Fleursdumal ha scritto:
Fleu, devo skappà dalla maestra ...
appena poss ti sistem il disegnin cò topi ....
ciao a domani
l'hanno eletto veramente , adesso un bel crollo del T-bond e suono anch'io il campanaccio dal mio balcone reale
Fleursdumal
फूल की बुराई
SPERO ha scritto:se mi salvo stavolta...giuro...
la prossima volta...x-y = 40 o y+40= x faccio 4/8 e non mi frega piu'
do' i numeri
ah domè calma e cancella le ultime righe che portano male
gastronomo
Forumer storico
Occhio ai Fedayn
*DJ Yellen: Surprised Long-Term Rates Aren't Higher - CNBC
*DJ Yellen: Stagflation `Has To Be On Our Radar'- CNBC
*DJ Fed's Yellen: Econ May Have Hit Soft Patch In Mar - CNBC
*DJ Yellen: Surprised Long-Term Rates Aren't Higher - CNBC
*DJ Yellen: Stagflation `Has To Be On Our Radar'- CNBC
*DJ Fed's Yellen: Econ May Have Hit Soft Patch In Mar - CNBC
Fleursdumal
फूल की बुराई
tutti stanno a vedè piazza san pietro ma per i maniaci veraci sta parlando in contemporanea un FEDdayn su CNBSMSN
*DJ Yellen: Surprised Long-Term Rates Aren't Higher - CNBC
*DJ Yellen: Surprised Long-Term Rates Aren't Higher - CNBC
Similar threads
