Forex News: European government bonds in negative numbers toward the close of trading Wednesday, after having spent the morning benefitting from safe haven trading as worries about bank stocks sapped strength from European equity markets. Higher than expected US CPI data for June, +1.1%, versus a forecast +0.7%, with core CPI at +0.3%, versus forecast +0.2%, causes stumble. Decline continues after release of stronger-than-expected US industrial production data for June +0.5%, versus a forecast +0.2%. The yield curve steepens with the 2-year/10-year spread widening to +9.5bp from 8.5bp Tuesday. September bunds are down 0.15 at 112.27, within an intraday range of 112.19-112.76. The 10-year is unchanged at 98.80 to yield 4.400%.
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