U.S. Treasury yields edged higher Monday as investors appeared to play down U.S.-China tensions and looked past a wave of civil unrest in U.S. cities.
What are Treasurys doing?
The 10-year Treasury note yield TMUBMUSD10Y, 0.673% rose 1.7 basis points to 0.661%, while the 2-year note rate TMUBMUSD02Y, 0.172% edged 0.8 basis points higher to 0.164%. The 30-year bond yield TMUBMUSD30Y, 1.453% climbed 2.5 basis points to 1.429%.
What’s driving Treasurys?
Cities across the U.S. saw outbreaks of violence in protests over police brutality over the weekend. Yet the national unrest didn’t have much of a dent on financial markets as the protests aren’t expected to take a long-term toll on growth, with investors instead eyeing initiatives to reopen the economy and Sino-American tensions.
China told two state-owned agricultural companies to halt purchases of soy beans under the phase one trade deal, while also cancelling other U.S. farm goods like pork, news reports said.The measures follow last Friday’s announcement by President Donald Trump that the U.S. would sanction individual Chinese officials for eroding Hong Kong’s autonomy, but did not offer clarity on what immediate steps he would take to take away the city’s special trade status with the U.S.Asian equities rose on Monday […]
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