US Dollar Up, US Treasuries Hammered
US Treasury Complex
Treasuries got hammered by Housing data, Greek optimism
- The US Treasury market sold off overnight on optimism over a solution to Greece’s debt crisis. The Greek 10-yr yield was down 145 bpts Monday morning and European exchanges rallied sharply. After better-than-expected Existing Home Sales data in the US, Treasuries made another leg lower and the complex finished on its lows
- Yield
- 2-yr: +4 bps to 0.66%
- 5-yr: +8 bps to 1.66%
- 10-yr: +10 bps to 2.36%
- 30-yr: +10 bps to 3.15%
- News
- Existing Home Sales increased 5.1% in May to 5.35 mln SAAR from an upwardly revised 5.09 mln (from 5.04 mln) in April, consensus had expected a rise to 5.26-M
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US Dollar (.DXY) Index
US Dollar rallied on better data
- The Buck rallied against all peers Monday after Existing Home Sales rose 5.1% in May
- .DXY: +0.23% to 94.31
- EUR/USD: -0.07% to 1.1348
- While the Greek debt crisis has been dominating the headlines, it has had relatively little effect on this currency pair in here.
- Purchasing Managers’ Indices (PMI) for France, Germany, and the entire Eurozone will be released overnight
- USD/JPY: +0.56% to 123.41
- Japan’s Manufacturing PMI for June comes out tonight
- GBP/USD: -0.32% to 1.5830
Stay tuned…
HeffX-LTN
Paul Ebeling
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