Treasuries drop as tariffs on Mexico are scrapped

Monday, 10. June 2019 14:43

Market sentiment was favorable for equities on Monday while safe haven assets were sold off after United States President Donald Trump reversed the decision to introduce import tariffs for Mexican merchandise. Government debt securities fell, shooting yields strongly higher, as he suspended the punitive measures, which have been announced due to illegal immigration from the south. Precious metals also weakened while the dollar gained versus most of other major currencies.

The US two-year note yield advanced two basis points to 1.881% at 8:41 am ET. The ten-year Treasury rate jumped 4.2 points to 2.127% following a surge to a month-to-date high at 2.148%. The yield on the thirty-year bonds soared 4.3 points to 2.617%. Corresponding futures prices dropped 0.07%, 0.37% and 0.61%, respectively.

Related Links: 
Author:
Breaking the News / IT