The yield on 10-year U.S. notes continued to rise on Monday, taking a stab at the psychologically important 3% level as strengthening inflation prospects added to expectations of a more hawkish approach from the Federal Reserve. What are Treasurys doing? The benchmark 10-year Treasury note yield TMUBMUSD10Y, +0.88%  picked up 3.9 basis points to 2.9916%, its highest level since January 2014, according to FactSet data. The 2-year note yield TMUBMUSD02Y, +1.55%  gained 2.5 basis points
U.S. stock futures were slipping on Monday, as Treasury yields resumed a move higher and investors waited for another big week of earnings to get underway, with Halliburton Co. coming ahead of the open. The market is also looking ahead to results later this week from major technology companies — Google parent Alphabet Inc., Facebook Inc. and Twitter Inc. — following losses for the sector in recent sessions. Read more: Hopes are high for this
The pair remains on the defensive near the 1.2200 handle. US 10-year yields falter just below the key 3.0% level. US Existing Home Sales, Manufacturing PMI next on tap. The buying pressure around the greenback stays well and sound at the beginning of the week, forcing EUR/USD to challenge the lower bound of the range in the 1.2230/20 band. EUR/USD weaker ahead of data The pair is prolonging the leg lower on Monday following an
Monday April 23: Five things the markets are talking about U.S Treasuries begin the week on the back foot, trading atop of the key psychological +3% level at +2.994%, prolonging last week’s price decline as capital markets continue to evaluate the global outlook for trade and growth. Note: Trade dominated discussions at an IMF gathering in Washington last weekend – the U.S/Sino trade row, coupled with global debt concerns, were named as threats to the
Germany’s central bank, Bundesbank (Buba) published its latest monthly economic report last minutes, with the key highlights found below. German boom to continue despite weaker Q1 growth. Q1 GDP growth noticeably lower than in previous quarters. Manufacturing made a minor contribution to Q1 GDP. Strikes in metal and electrical industries likely to have played a role on low production levels. The unusually strong flu epidemic has also dampened economic activity in other sectors. Order situation
Vulnerable below a break of 0.7630 – key pivot level. Sell-off in commodities, higher DXY accentuated the selling bias. The AUD/USD pair failed yet another recovery attempt near the 0.7680 region and from there got hammered to test the weakest levels in four-months at 0.7634 amid relentless demand for the US dollar across its main competitors. The US dollar index sits at the highest levels in eight weeks at 90.46, tracking the upsurge in Treasury
There have been times lately when those swift and painful selloffs across the major U.S. stock indexes have certainly felt like corrections, or at least potential signals that the BIG correction bears having been anticipating for years is finally upon us. But … really? “If Q1 represents a larger correction, then please tell me where there is evidence that the most valued and overbought sector, tech, has actually corrected,” says Sven Henrich of the Northman
Oil prices fell on Monday, rattled by news of a higher U.S. rig count late last week and as the dollar climbed amid another move up for a key U.S. government bond yield. June WTI crude CLM8, -0.57% fell 46 cents, or 0.7%, to $67.95 a barrel. The expired May contract logged a 1.5% gain last week. June Brent crude LCOM8, -0.36% on Monday dropped 41 cents, or 0.6%, to $73.65 a barrel, after a
In the week ending Tuesday, 17 April, leveraged funds cut long JPY positioning to 19% from 26% the previous week, notes the research team at Nomura. Key Quotes “The 1y-high JPY net-long position is 36%, recorded in April. In contrast, asset managers increased long JPY positioning from 21% to 24%.” “GBP&EUR: Sterling net long positioning fell from 55% to 50%, maintaining a level somewhat close to the 1y high of 59% recorded in February. However,
OANDA‘s  Head of Trading APAC Stephen Innes on the peso’s outlook and how that’s denting sentiment in the equity markets. Bloomberg TV This article 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 Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all