Bond yields creep higher as markets wait for Fed signals

11 Juillet, 2019, 05:07 | Auteur: Auguste Feret
  • Bond yields creep higher as markets wait for Fed signals

World FX rates in 2019 http://tmsnrt.rs/2egbfVh * Fed's Powell says trade, global concerns weigh on US economy * Dollar hits session low vs yen, euro after Powell remarks * Markets expect 25 basis-point cut later this month (Adds analyst comments, updates prices) By Gertrude Chavez-Dreyfuss NEW YORK, July 10 (Reuters) - The dollar fell on Wednesday after Federal Reserve Chairman Jerome Powell struck a downbeat tone in congressional testimony, saying trade uncertainties and concerns about the global outlook continued to exert pressure on the USA economy. The yield on 10-year Treasuries fell to 2.05%, after climbing above 2.10% for the first time in a month.

"A rate cut in July is now all but certain", said James McCann, senior global economist at Aberdeen Standard Investments. Investors will also scour June minutes from the Fed's June meeting. The pound halted a drop to a two-year low as data showed the United Kingdom economy rebounded in May.

European Central Bank minutes are due on Thursday.

Japan's Nikkei had also finished lower and Chinese blue chips barely budged as data showed inflation remained subdued.

Shares of 3M fell almost 2.1 percent, as Canadian investment bank RBC Capital Markets downgraded the company's stock to "sector perform" from "outperform", due to "eroding" reputation of the USA conglomerate as a "defensive, high-quality industrial".

The S&P 500 Index rose 0.4% as of 10:30 a.m.

The Dow Jones Industrial Average .DJI rose 43.35 points, or 0.16%, to 26,826.84, the S&P 500 .SPX gained 7.23 points, or 0.24%, to 2,986.86 and the Nasdaq Composite .IXIC added 28.44 points, or 0.35%, to 8,170.16.

The Stoxx Europe 600 Index climbed 0.4%.

France says Javelin missiles found in Libya were 'unusable': army ministry
Libya has been in a constant state of unrest since a NATO-backed insurgency overthrew Muammar Gaddafi's government in 2011. France broadly supports Haftar , regarding his forces as helpful in the fight against Islamist militants.

Trump Reacts After Obama-Appointed Judge Blocks Administration’s Latest Census Move
Constitution specifically assigns the job of overseeing the census to Congress, limiting the authority of the president over it. District Judge Jesse Furman wrote that the Justice Department's request to change the legal team was "patently deficient".

F1 still looking to add London race alongside Silverstone
However, after a two-year saga the British Grand Prix will continue at Silverstone, which hosted the first F1 race in 1950. But Chase Carey, F1 chairman, has refused to concede his ambition to take the sport to London.

MSCI's broadest index of world stocks was little changed after three days of losses. Australia's S&P/ASX 200 advanced 0.45%.

The euro increased 0.4% to US$1.1249, the biggest climb in more than two weeks.

Renewed strength in the dollar would be an extra worry for the British pound, which is stuck near a six-month low due to uncertainty over how Britain will avoid a messy no-deal exit from the European Union. Yields on two-year Treasuries rose to 1.917 per cent from their recent low of 1.696 per cent and Europe's benchmark yields up around five basis points.

Sterling was last quoted at $1.2455 after skidding to a new six-month low of $1.2439 on Tuesday, with Brexit jitters and growing expectations of a Bank of England rate cut adding to the currency's weakness.

The dollar also firmed to ¥108.96, while the euro faded to US$1.1204 (RM4.641) having been as high as US$1.1412 just a couple of weeks ago.

The dollar's gains took the shine off gold, which eased 0.3 percent to $1,393.14 per ounce.

Yields on short-dated U.S. Treasuries, which had ticked higher in recent sessions after stronger-than-expected employment data on Friday, fell on Powell's remarks.

Brent crude futures rose 67 cents to $64.83, while United States crude gained 83 cents to $58.66 a barrel.

Conseillé:



Populaire

Third Walking Dead series casts its first three leads
Cantu, 15, already has an impressive list of acting work, though he's best known for his behind the scenes work as a voice actor. The Walking Dead spinoff will be showrun by writer and producer Matt Negrete alongside chief content officer Scott M.

Amal Clooney faults ‘collective shrug’ over slain journalist
President Donald Trump's vilification of the media makes journalists more vulnerable to abuse around the world. Human-rights lawyer Amal Clooney says U.S.

Turkey has no plans to stop drilling operations near Cyprus
Two Turkish drillships, Yavuz and Fatih, are now anchored off the coast of Cyprus in order to drill for oil and gas. Turkish Cypriots claim most of seven blocks in the east.

N.Korea Marks 25th Anniversary of Founder's Death
North Korean leader Kim Jong-un's sister now appears to be the ninth most powerful figure in the regime. North Korea is observing the 25th anniversary of the death of its late founder, Kim Il Sung.

Carlson: Rep. Omar 'Living Proof' Immigration System 'Dangerous'
In Omar's version, America wasn't the bighearted country that saved her from a brutal war and a bleak refugee camp. He also suggested to viewers that "maybe we are importing people from places who are simply antithetical to ours".

Angela Merkel à nouveau prise de tremblements (afp)
Il s'agit du 3 incident de ce type en un mois, suscitant des interrogations sur l'état de santé de la chancelière allemande . Ce mercredi 10 juillet, " il faisait bien frais à Berlin pour la saison ", relate le quotidien allemand.

Elon Musk's SpaceX wins NASA contract for mission to study black hole
The company has also been awarded the contracts for the SWOT , Sentinel-6A , and DART missions. Now, NASA and the leading commercial space company have shaken hands on another deal.

Sagan enfin, Alaphilippe toujours en jaune — Tour de France
Son directeur sportif Yvon Madiot a prévenu: "Ce sera le jardin de Thibaut, ses routes d'entraînement, c'est chez lui". Julian Alaphilippe , toujours leader, fera tout pour conserver son maillot jaune, acquis à Epernay ce lundi.

Spanish court rules Julio Iglesias is father of 43-year old man
It was ruled that she had provided good evidence of her week-long affair with the singer at the time her son was conceived. Iglesias has often presented himself as an unapologetic flirt with "an obsession for sex ". "I don't even know myself".

CAN 2019 : Claude Le Roy encense l’Algérie "Guardiolesque" de Belmadi
Par ailleurs, il faut relever pour les amoureux des statistiques que ce choc Algérie-Côte d'Ivoire en quart de finale sera le troisième du genre entre les deux équipes.