US Treasuries jump on pullback in stocks

Wednesday, 12. June 2019 13:09

Investors turned to United States government debt on Wednesday, lifting prices and knocking yields lower, parallel to a rise in the valuations of precious metals and the yen in a shift to safety. Stocks dropped in Europe but German sovereign debt didn't benefit much amid fears for the health of the Eurozone's largest economy. The Department of the Treasury is selling $24 billion in a reopening for 10-year notes.

President Donald Trump said yesterday the euro and other currencies which he didn't specify are devalued against the dollar and reiterated that the Federal Reserve's interest rates are "way to high." He also expressed the view inflation is very low and that it's a "beautiful thing." The report on consumer prices for last month is due to be released today.

The two-year note yield dropped 4.5 basis points to 1.893% at 7:03 am ET. The 10-year rate fell 1.9 points to 2.122% and the 30-year measure was one point down at 2.604%. Corresponding futures grew 0.08%, 0.14% and 0.22%, respectively.

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