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1 Feb 2016
Treasury yields rise despite weak data
FXStreet (Mumbai) - The yields on the long duration and short duration treasury notes in the US advanced even though the data released in the US showed consumers spent less despite rise in income in December.
As of writing, the benchmark US 10-yr treasury yield was up more than one basis point at 1.948%. The 5-yr yield was up more than 2.5 basis points. Meanwhile, even the 2-yr treasury yield, which mimics the short-term rate hike bets, was up almost 3 basis points.
The hardening of the yields contradicts the data released today that showed the savings rate jumped to highest since Dec 2015 as spending dipped, while income rose.
The focus now is on the US ISM manufacturing PMI due for release in the next few minutes.
As of writing, the benchmark US 10-yr treasury yield was up more than one basis point at 1.948%. The 5-yr yield was up more than 2.5 basis points. Meanwhile, even the 2-yr treasury yield, which mimics the short-term rate hike bets, was up almost 3 basis points.
The hardening of the yields contradicts the data released today that showed the savings rate jumped to highest since Dec 2015 as spending dipped, while income rose.
The focus now is on the US ISM manufacturing PMI due for release in the next few minutes.