FXStreet (Mumbai) – The safe haven treasury prices rose, thereby pushing yields lower ahead of the data in the US, which could show core durable goods orders witnessed modest rebound in June.
The yield on the US 10-year Treasury note currently trades 4.3 basis points lower at 2.23%. The long-end treasury yields dropped after China’s Shanghai Composite index fell more than 8% to register its biggest single day fall since 2007. The drop also pushed major European equities lower. The major index futures also point to a weak opening on Wall Street.
Investors now await the US durable goods orders report for June. The headline number is seen rising 3.00%, while the core figure is expected to rise 0.5%, after stalling in May.
The data could influence the short-end – 2-year yield, which mimics short-term interest rate expectations in the US. At the moment, the yield is down 1.2 basis points at 0.67%.
(Market News Provided by FXstreet)