Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Indexes  >  USA  >  S&P 500    SP500

S&P 500

(SP500)
SummaryQuotesChartsNewsHeatmapComponents 
News SummaryAll newsNews of the components ofMarketScreener Strategies

BOND REPORT: Treasury Yields Retreat From Session Highs After Stock-market Rally Runs Out Of Steam

share with twitter share with LinkedIn share with facebook
share via e-mail
0
06/11/2019 | 04:21pm EDT

By Sunny Oh

Treasury yields fell from their session highs on Tuesday, after U.S. equities gave back ground even as China said it would launch fiscal stimulus measures to spur infrastructure spending across the second largest economy in the world.

What are Treasurys doing?

The 10-year Treasury note yield was virtually unchanged at 2.140%, after touching an intraday peak of 2.177%, while the 30-year bond yield was down 0.6 basis points to 2.617%. The 2-year note yield was up 2.2 basis points to 1.922%. Debt prices move in the opposite direction of yields.

What's driving markets?

China's state news agency Xinhua said on Monday that local governments and financial institutions should make use of special bonds to ramp up infrastructure investment throughout the country. Investors have looked toward China's stimulus to reflate an anemic global economy even as Beijing attempts to navigate a simmering trade spat with the U.S.

Trump warned China's President Xi Jinping on Monday that he would levy tariffs on another $300 billion of imports if they did not meet at the G-20 meeting held in late June.

Demand for Treasurys waned and then waxed in line with the stock-market's movements. The S&P 500 initially climbed in early trading but struggled to push above the 2,900 level.

Global equities achieved hefty gains. China's CSI 300 index climbed 3%, while the Stoxx Europe 600 index rose 0.7%.

The Treasury Department's sale of $38 billion 3-year notes attracted strong appetite from bond investors. The ratio of bids accepted to bids received for the sale, or the bid-to-cover ratio, sat at 2.62 times, slightly above the average in auctions held during the last 12 months. Sales for government paper can influence trading in the outstanding debt market.

What did market participants say?

Analysts say the solid reception for the auction of 3-year notes, sensitive to expectations for Federal Reserve policy, could reflect the expectation for rate cuts this year.

"Too early to say for June and July but it's certainly a message and belief where interest rates are likely going in the next few years on the short end. In this case, that means lower. As for next week, I think there is zero chance they cut as it makes no sense to ahead of the Trump/Xi meeting," said Peter Boockvar, chief investment officer for the Bleakley Advisory Group.

What else is on investors' radar?

In economic data, producer prices for May rose 0.1%. The NFIB's small-business optimism index rose to a seven-month high of 105 in May.

Stocks mentioned in the article
ChangeLast1st jan.
DJ INDUSTRIAL -0.59% 26935.07 Delayed Quote.16.15%
NASDAQ 100 -0.99% 7823.553294 Delayed Quote.24.83%
NASDAQ COMP. -0.80% 8117.674437 Delayed Quote.23.32%
S&P 500 -0.49% 2992.07 Delayed Quote.19.36%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on S&P 500
09/20Fund managers gird for long trade war after FedEx slide
RE
09/20WALL STREET STOCK EXCHANGE : Stocks Close Lower in Final Day of a Bumpy Trading ..
DJ
09/20Global stocks fall as China cancels U.S. farm visits, yields dip
RE
09/20WALL STREET STOCK EXCHANGE : Stocks Close Lower in Final Day of a Bumpy Trading ..
DJ
09/20Stocks fall as China cancels U.S. farm visits, yields dip
RE
09/20MARKET SNAPSHOT: Stocks End Lower After U.S-China Trade Concerns Rattle Marke..
DJ
09/20Wall Street drops after China cancels trip to Montana farmland
RE
09/20WALL STREET STOCK EXCHANGE : Stocks Turn Lower in Final Day of a Bumpy Trading W..
DJ
09/20WALL STREET STOCK EXCHANGE : Stocks Turn Lower in Final Day of a Bumpy Trading W..
DJ
09/20WALL STREET STOCK EXCHANGE : Stocks Turn Lower in Final Day of a Bumpy Trading W..
DJ
More news
Chart S&P 500
Duration : Period :
S&P 500 Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends S&P 500
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Top / Flop S&P 500
INCYTE CORPORATION 81.21 Delayed Quote.3.96%
ALIGN TECHNOLOGY 186.54 Delayed Quote.3.43%
REGENERON PHARMACEUTICALS 295.87 Delayed Quote.3.40%
GARTNER INC 143.64 Delayed Quote.2.50%
DENTSPLY SIRONA INC 51.13 Delayed Quote.2.46%
WESTERN DIGITAL 60.68 Delayed Quote.-3.14%
ROSS STORES 104.75 Delayed Quote.-3.55%
MSCI 225.73 Delayed Quote.-4.10%
NETFLIX 270.75 Delayed Quote.-5.53%
XILINX 96.55 Delayed Quote.-6.82%
Heatmap :