FXStreet (Mumbai) – The treasury prices extended the winning streak for the fourth day, pushing the yields lower across the curve after the US data worsened the risk aversion and triggered demand for safe haven assets.
At the time of writing, the yield on the benchmark 10-yr Treasury note was down 8 bps at 2.012%. The interest rate sensitive two-year yield was down 6 bps at 0.846%.
Yields were trading moderately lower in Europe, but fell sharply in the US session after the batch of US data – regional manufacturing index, advance retail sales, industrial production – showed anemic household spending and manufacturing recession in the US.
The data worsened risk aversion courtesy of which the major US equity indices dropped more than 2.5% in early trading.
(Market News Provided by FXstreet)