Get Breaking Alerts on Stocks Before The Mainstream Media

Stay informed of the biggest news on stocks so you can react before 90% of retail investors.
Email address
We guarantee you to keep your privacy
Connect with us
Financial Press
bond-report:-treasury-yields-see-back-to-back-drop-amid-labor-market,-coronavirus-worries
bond-report:-treasury-yields-see-back-to-back-drop-amid-labor-market,-coronavirus-worries

Breaking

Bond Report: Treasury yields see back-to-back drop amid labor market, coronavirus worries

Bond Report

U.S. Treasury yields slipped Thursday, marking a back-to-back drop as labor-market data suggested unemployment remained stubbornly higher, with investors also handling concerns around a re-acceleration of COVID-19 infections.

What are Treasurys doing?

The 10-year Treasury note yield
TMUBMUSD10Y,
0.714%

fell 3.9 basis points to 0.693%, while the two-year note rate
TMUBMUSD02Y,
0.197%

edged down 0.2 basis points to 0.193%. The 30-year bond yield
TMUBMUSD30Y,
1.489%

slipped 6.2 basis points to 1.461%.

Get Breaking Stock Alerts

Stay informed of the biggest news on stocks so you can react before 90% of retail investors.
Email address
We are Spam free & Secure 🙂
What’s driving Treasurys?

The number of Americans filing for unemployment benefits increased by 1.51 million, above the forecast of 1.35 million from MarketWatch-polled economists. Continuing claims stayed at an elevated 20.54 million, after hitting a peak of 23 million in May.

Other economic data was more positive, with the Philadelphia Fed manufacturing index for June rising to 27.5 in June from negative-43.1, marking its first positive reading since February

Fed Chairman Jerome Powell, in congressional testimony, said Tuesday that a strong job market was key to combating inequality, and was where the central bank could do the most to help low-income and minority communities. His remarks speak to worries that Black and Latino workers saw the biggest shock when the coronavirus pandemic forced the closures of businesses across the U.S.

The market also tracked the data on new COVID-19 infections and hospitalizations as the total tally of cases continues to lurch higher in Florida, Texas and Arizona. Concerns around the health front was responsible for raising demand for haven assets like government paper.

Worries about a second wave of infections in China eased after Wu Zunyou, the chief epidemiologist of the Chinese Center for Disease Control and Prevention, said Thursday the capital’s recent coronavirus outbreak has been brought under control.

What did market participants say?

“There’s still signs of hesitation in markets that are pushing back against the optimism in stocks to a certain degree,” said Marvin Loh, senior global market strategist at State Street, in an interview, referring to the depressed level of long-dated bond yields.

Written By

Click to comment

Leave a Reply

Your email address will not be published.

Related Articles

Breaking

This report has been corrected with updated data for a prior share-price decline. Verizon Communications Inc. recently offered a better-than-expected earnings outlook for the...

Breaking

An earlier version of this report misstated AT&T’s postpaid net additions. It has been corrected. A leaner AT&T Inc. topped revenue expectations Wednesday as...

Breaking

Teradyne Inc.’s first-quarter financial guidance fell short of Wall Street projections, sending shares down nearly 20% in after-hours trading to $115.03. The company projected...

Breaking

Lam Research Corp. shares plunged in late trading Wednesday after the chip-equipment supplier reported worse-than-expected fiscal second-quarter revenue and third-quarter guidance, which the chief...

Get Breaking Stock Alerts

Stay informed of the biggest news on stocks so you can react before 90% of retail investors.
Email address
We are Spam free & Secure :)

Get Breaking Stock Alerts

Email address

Get Breaking Stock Alerts

Stay informed of the biggest news on stocks so you can react before 90% of retail investors.
Email address