25 Mart 2011 Cuma

Treasuries: Yields mired in a tight range

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NEW YORK (CNNMoney) -- Treasury prices fell Thursday as investors parsed through a mixed bag of economic reports.

Yields, which move in opposite direction to price, have largely been stuck in a rut as investors continue to keep a wary eye on spreading unrest in the Middle East and Japan's recovery efforts.

"There's been a real mixture of data and events that have Treasuries mostly range bound," Kim Rupert, managing director of global fixed income analysis said.

The price on the benchmark 10-year U.S. Treasury fell, pushing the yield up to 3.37% from 3.26% late Wednesday.

Investors have been pulling back on bonds and shifting into some riskier assets as Japan's efforts to avert a worsening crisis seem to be working.

"We have relatively calmer conditions in Japan," Guy LeBas, Chief Fixed Income Strategist, Janney Montgomery Scott said.

According to LeBas there have also been roughly $52 million of corporate issues this week which is nearly twice the average week this year.

"It crowds out the Treasury market," he said.

Rupert says a number of outside factors are impacting Treasuries -- a durable goods report that was weaker than expected, traders' focus on the events in Portugal after yesterdays defeat of the austerity measures, and a report on initial jobless claims have all played a role.

On Thursday, the yield on the 2-year note rose to 0.67%, the 5-year note yield inched up to 2.1% and the 30-year bond yield reached 4.5%.  

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