US Treasuries Clawing Back, US Dollar Falling Down
US Treasury Complex
US Treasuries began the session deep in the Red, falling with European sovereign debt, but made their way back throughout the session to end near highs. The yield curve flattened, with 2’s/10’s narrowing 5 bps to 165 bpts and 5’s/30’s coming in 2 bpts to 139 bpts
- Yield
- 2-yr: -1 bpt to 0.66%
- 5-yr: -5 bpts to 1.64%
- 10-yr: -6 bpts to 2.31%
- 30-yr: -7 bpts to 3.03%
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US Dollar (.DXY) Index
The Aussie fell sharply Thursday after Australia’s trade deficit widened to $3.9-B in April. That was the largest deficit on record. Economists were looking for a deficit of $2-B
- AUD/USD: -0.98% to 0.7694
- .DXY recovered early losses declining 0.04% to 95.43
- Initial Jobless Claims for the week of 30 May were 276,000, just slightly better than the consensus of 280-K. There were 282,000 in the prior week
- EUR/USD: -0.11% to 1.1249
- Greece has decided not to pay the IMF the EUR 305-M payment Friday and instead to bundle all of Greece’s EUR 1.6-B in IMF payments into 1 at the end of June. A technical default.
- GBP/USD: +0.35% to 1.5379
- The Bank of England’s (BOE) Monetary Policy Committee left its main policy rate unchanged at 0.5%, where it has been since Y 2009
- The Halifax House Price Index fell a worse-than-expected 0.1% in May. The change in April was +1.6%
- USD/JPY: -0.06% to 124.28
- Overnight, the Bank of Japan’s (BOJ) Harada said that the Yen is “in a pretty good place.” potentially signalling that the BOJ would not like to see further weakening
- USD/CAD: +0.25% to 1.2490
- USD/CHF: -0.22% to 0.9326
- NZD/USD: -0.36% to 0.7124
Stay tuned..,
HeffX-LTN
Paul Ebeling
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