Yields in U.S. Treasuries Reach One-Month Low

Treasuries gained, sending 10-year yields to a one-month low, as U.S. jobless claims rose, business-equipment orders (CGNOXAI%) fell and home sales were less than forecast, raising concern the economic recovery is uneven.

The benchmark note rallied for a fifth day, the longest stretch in more than a month. Its yield premium over Group of Seven peers was almost the biggest in two months, attracting global investors, as European and Asian officials embraced stimulus to try to head off deflation. The U.S. sold $29 billion of seven-year debt to above-average demand, drawing the lowest yield since October 2013.

“The data is always important,” said William O’Donnell, head U.S. government bond strategist at Royal Bank of Scotland Group Plc’s RBS Securities unit in Stamford, Connecticut, one of 22 primary dealers that are obligated to bid at the auctions. “This gravitational pull of lower global rates is without a doubt the dominant theme right now.”


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.