US Tsy’s Rally After Economic Data

Treasury 10-year notes rose, pushing yields to the lowest level since October, after consumer-price inflation in April met forecasts.

Shorter-term Treasuries fell, while 30-year bonds rose. A report showed claims for jobless benefits in the U.S. unexpectedly fell and a gauge of regional manufacturing increased more than forecast before Fed Chair Janet Yellen speaks today. She said last week the U.S. recovery is uneven and the economy still requires support. Data this month showed employment and manufacturing gains, while retail sales fell short of expectations.

Benchmark 10-year yields declined two basis points, or 0.02 percentage point, to 2.53 percent at 9:07 a.m. in New York, according to Bloomberg Bond Trader prices. They touched 2.51 percent, the lowest since Oct. 31.

Thirty-year bond yields fell four basis points to 3.34 percent.


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Dean Popplewell

Dean Popplewell

Vice-President of Market Analysis at MarketPulse
Dean Popplewell has nearly two decades of experience trading currencies and fixed income instruments. He has a deep understanding of market fundamentals and the impact of global events on capital markets. He is respected among professional traders for his skilled analysis and career history as global head of trading for firms such as Scotia Capital and BMO Nesbitt Burns. Since joining OANDA in 2006, Dean has played an instrumental role in driving awareness of the forex market as an emerging asset class for retail investors, as well as providing expert counsel to a number of internal teams on how to best serve clients and industry stakeholders.
Dean Popplewell