U.S. bond market takes worst beating in three months

The U.S. Treasury market posted its biggest one-day sell-off in three months on Monday, as encouraging data on manufacturing activity in the world’s two biggest economies spurred some investors to scale back their holdings of safe-haven bonds.

“We are going from a bad situation to a less bad situation. The had a impact for sure,” said Ellis Phifer, senior market strategist at Raymond James in Memphis, Tennessee.The Institute for Supply Management said its index on U.S. domestic factory activity rose to 55.3 in March, higher than what analysts polled by Reuters had expected.

In heavy-volume trading, the yield on U.S. benchmark 10-year Treasury notes rose nearly 9 basis points for its biggest single-day jump since Jan. 4. It broke above 2.50 percent to its highest levels in over a week in late U.S. trading.“The move was overdone a bit,” said Justin Lederer, Treasury strategist at Cantor Fitzgerald in New York.The inversion between three-month rates and 10-year yields fed speculation about a U.S. economic recession.

globeinvestor

México Últimas Noticias, México Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

Posthaste March 29: BlackBerry beats, Lyft’s market debut and more auto job pain for OntarioHot tech stocks, SNC-Lavalin’s plan B and good news on the Canadian economy Well time for the conservatives to fix the mess
Fuente: nationalpost - 🏆 10. / 80 Leer más »

Oil prices reverse earlier gains as market eyes U.S. stocksFurther disruptions to Venezuela’s crude exports were offset by a report that U.S. inventories rose
Fuente: globeandmail - 🏆 5. / 92 Leer más »

1Q U.S. market review: Great returns, but with a twist at the end1Q U.S. market review: Great returns, but with a twist at the end GlobeInvestor
Fuente: globeandmail - 🏆 5. / 92 Leer más »

Bump stocks are turned in or destroyed as U.S. ban takes effectThe U.S. ban on bump stocks took effect this week, and there are signs that owners destroyed tens of thousands of them or handed them over to authorities as required.
Fuente: CTVNews - 🏆 1. / 99 Leer más »

The twist with these strong market returns, investors are their own worst enemy, and what the yield inversion means to the banksThe twist with these strong market returns, investors are their own worst enemy, and what the yield inversion means to the banks GlobeInvestor
Fuente: globeandmail - 🏆 5. / 92 Leer más »