EbeneNews – GB – Yields take a break ahead of presidential debate

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    NEW YORK: US Treasury yields were roughly flat by the end of a calm Monday, with no significant data release or cash issue on the calendar, and investors are reluctant to make progress important ahead of the presidential debate on Tuesday

    The benchmark 10-year yield increased 02 basis points on the day to 0661%, with the 30-year yield up 16 basis points to 1421% The two-year yield was unchanged on the day at 0131 %

    “Today the price action is modest, which you would expect There is a very quiet data calendar and no bid to speak of For me the most significant risk for the over market the next five to six weeks is the presidential election, followed closely by a second wave of COVID, ”said Jon Hill, US rates strategist at BMO Capital Markets

    The first debate between the two US presidential candidates – incumbent Republican Donald Trump and former Democrat Vice President Joe Biden – is scheduled for Tuesday evening

    At five weeks into the November 3 general election, the stakes are high Trump recently refused to commit to a peaceful transfer of power if he loses the election to Biden, and has said he expected the Supreme Court to declare a winner

    “For better or worse, Treasuries are valued for a rather quiet few weeks There is a bit of electoral uncertainty in this market, but I think the reality is that due to all the uncertainties surrounding the vote and the possibility of a difficult transition, it really allowed a lot of people to stay focused on the topic, but not necessarily with high convictions, ”Hill said

    A slew of high-quality corporate bond deals hit the market on Monday, which may also have contributed to slowing demand for U.S. government debt Just under $ 4 billion in new High-quality corporate papers had been valued by mid-afternoon on Monday, and a $ 2 billion three-part deal with Pernod Ricard is still expected to arrive

    “Credit positioning may have a bit of influence on rates We have a decent amount of new issue credit offers this week ahead of the start of the earnings season. Positioning ahead of supply credit is also likely to have an influence on the rate market, “said Guy LeBas, chief fixed income strategist at Janney Montgomery Scott

    US Department of the Treasury, Debate, US presidential debates

    EbeneNews – GB – Yields take a break before presidential debate



    SOURCE: https://www.w24news.com/news/ebenenews-gb-yields-take-a-break-ahead-of-presidential-debate/?remotepost=350657

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