Yields in narrow range as investors await economic signals By Ross Kerber Investors kept U.S.Treasury yields ina narrow range Tuesday as a scarcity of new economic data lefttraders waiting for further market developments.The benchmark 10-year yield was up less than abasis point at 1.6013% in morning trading.”Treasuries remain in a holding pattern with 10-year yieldsnear 1.60% as the dearth of economic data this week leaves theU.S.rates market to drift sideways in anticipation of the nextfundamental input,” BMO Capital Markets managing director IanLyngen said in a note to investors.The pattern contrasted with volatile trading that drove thebenchmark yield to a multi-week low of 1.528% on April 15.Upcoming events include a $24 billion auction of 20-year bondsby the U.S.
Treasury set for Wednesday.Euro zone bond yields continued to rise on Tuesday, butmoves were contained after a hefty sell-off on Monday in adata-light trading session just two days before the bloc’scentral bank meeting.Global shares edged further back from record highs as loftysovereign bond yields and rising global COVID-19 cases hadinvestors questioning high equity valuations, and futurespointed to another day of selling on Wall Street.A closely watched part of the U.S.
Treasury yield curvemeasuring the gap between yields on two- and 10-year Treasurynotes, seen as an indicator of economicexpectations was at 144 basis points, a basis point lower thanMonday’s close.The two-year U.S.Treasury yield, which typicallymoves in step with interest rate expectations, was unchanged at0.1613%.April 20 Tuesday 8:56AM New York / 1256 GMT Price Current Net Three-month bills 0.0275 0.0279 0.000 Six-month bills 0.0425 0.0431 0.000 Two-year note 99-238/256 0.1613 0.000 Three-year note 100-28/256 0.3381 -0.003 Five-year note 99-160/256 0.8276 -0.001 Seven-year note 99-224/256 1.2688 -0.003 10-year note 95-176/256 1.6013 0.002 20-year bond 95-8/256 2.1852 0.006 30-year bond 90-232/256 2.2979 0.005 DOLLAR SWAP SPREADS U.S.2-year dollar swap 11.50 0.25 spread U.S.
3-year dollar swap 12.25 0.50 spread U.S.5-year dollar swap 8.00 0.25 spread U.S.10-year dollar swap -2.00 0.25 spread U.S.
30-year dollar swap -29.25 0.00 spread (Reporting by Ross Kerber in Boston; Editing by Susan Fenton) 2021-04-20 15:07:58
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