US and Swiss Yields Drop After SNB Shock Decision

U.S. sovereign bonds continued to gain Friday, with markets around the world still unsettled by the Swiss central bank’s shock move on Thursday.

Yields on benchmark 10-year Treasury notes—used to calculate mortgage rates and other consumer loans—fell to 1.7191 percent on Friday, continuing a rally that has seen yields fall for five consecutive sessions.

This followed the announcement by the Swiss National Bank (SNB) that it would abandon its three-year-old cap on the Swiss franc’s value against the euro.

Swiss bonds also rose on Friday, pushing the 10-year government bond yield into negative for the first time, according to Reuters.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza