Chicago index fall influences investors
News that the Chicago purchasing managersa�� index fell to 54.1 in May, down from 65.6 in April and well below the expected May figure of 62 carried more influence with investors Tuesday than did data indicating higher consumer confidence.
This took yields on 10-year US Treasury bonds to a 3-month low of 3.994 percent before rebounding to a late afternoon yield of 4 percent, a loss of 7.5 basis points.
Thirty-year bond yields were also down, losing 9.1 basis points to fall to 4.339 percent, its lowest yield since June of 2003.
Yields on government bonds in the eurozone reached new lows on Tuesday as well.
News that consumer sentiment and the business climate had both declined in the eurozone sent yields on the 10-year German Bund down to 3.260 percent.
Yields also fell in the UK on weak retail figures. The 2-year gilt fell 7.8 basis points to yield 4.305 percent and 10-year yields were down to 4.307 percent, a loss of 9.6 basis points.
Comments (0)
Trackback URL | Comments RSS Feed
There are no comments yet. Why not be the first to speak your mind.