U.S. Treasuries Higher after Comments by ECB’s Draghi

U.S. Treasury long bond prices edged higher on Friday in line with gains in euro zone debt after European Central Bank President Mario Draghi said the central bank is prepared to do more to stimulate a sluggish euro zone economy.

U.S. government debt took a cue from European markets, where Draghi’s comments lifted euro zone debt and pushed yields on three of the region’s countries – Ireland, Italy, and Austria – to record lows.

Treasurys rose despite gains in U.S. stocks, which typically draw investors away from debt. Stocks rose as Draghi’s comments and a surprise rate cut from China cheered investors worried about a slowdown in global growth.


Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.