US Treasuries Fall, US Dollar Falls

US Treasuries Fall, US Dollar Falls

US Dollar (.DXY) Index

.DXY fell 0.18% to 96.14 Thursday after the June Employment Situation Report showed that wages were flat M-M, giving the Fed more room to hold steady on rates until Y 2016

• EUR/USD: +0.37% to $1.1082
  • The ECB announced that it would expand the scope of its asset purchase program to include corporate bonds, while keeping the total size of the program the same
  • Greek Finance Minister Yanis Varoufakis said in a TV interview said that he would resign if the “Yes” voters win on Sunday, giving the Greek government a mandate to accede to its official creditors’ demands
• GBP/USD: -0.03% to 1.5602
  • The UK’s Construction PMI jumped to a better-than-expected 58.1 in June versus 55.9 in May
    • The Nationwide Harmonized Price Index rose 3.3% Y-Y in June, less than expected and less than the 4.6% gainer in May
• USD/JPY: -0.12% to 123.09
• USD/CHF: -0.50% to 0.9440
• USD/CAD: -0.25% to 1.2561
  • Canada’s RBC Manufacturing PMI came out at 51.3 for June, up from 49.8 in May
• AUD/USD: -0.21% to 0.7623
  • Australia’s trade deficit narrowed to -2.751-B in May from -4.136-B in April
• NZD/USD: +0.02% to 0.6718
  • The Kiwi traded a fresh 3-yr low, falling as low as 0.6676

US Treasury Complex

US T’s yields fell on downbeat economic data

US Treasuries moved North Thursday in a curve-steepening trade after June’s Employment Situation Report showed that wage growth still stagnant, and the super NFPs from May was revised down by 26-K. Adding to the Bullish notion was a Factory Orders report for May that showed weakness as well as a downward revision to the April reading. The Greek referendum will take place Sunday, 5 July.

• Yield
  • 2-yr: -6 bpts to 0.63%
  • 5-yr: -7 bpts to 1.64%
  • 10-yr: -4 bpts to 2.38%
  • 30-yr: -1 bpts to 3.19%

Have a terrific holiday weekend.

HeffX-LTN

Paul Ebeling

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