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

MarketScreener Homepage  >  News  >  Economy & Forex  >  All News

News : Economy & Forex

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors 
All NewsEconomyCurrencies / ForexCryptocurrenciesEconomic EventsPress releases

BOND REPORT : Treasury Yields Struggle For Direction As Investors Monitor For Changes To Tax Bill

share with twitter share with LinkedIn share with facebook
share via e-mail
0
11/08/2017 | 04:18pm CEST

By Sunny Oh

10-year Treasury yield heads back to 2.30%

Treasury yields held their ground on Wednesday as investors continued to assess progress on and prospects for tax-cut legislation working its way through Congress.

What are yields doing?

The 10-year Treasury note yield was relatively unchanged at 2.312%, up slightly from 2.309% on late Tuesday. The 2-year note yield edged higher to 1.633% from 1.629%. The 30-year bond yield was muted at 2.769%, versus 2.772%.

What's driving Treasurys?

Pushback against the tax proposal has been strong. Limitations on deductions for mortgage interest and state and local taxes are seen as among the most controversial.

Bondholders are worried tax cuts will widen the budget deficit and increase the amount of new issuance hitting the market next year, weighing on prices. Moreover, any inflationary impact could push the Federal Reserve to raise rates at a faster pace, a move that would prove bearish for U.S. government paper.

What did market participants say?

"The "Tax Cuts and Jobs Act"--TCJA--released by the leadership of the House Ways and Means Committee has been under attack, which is not surprising given that it includes numerous measures raising as well as lowering tax burdens, "wrote Jim O' Sullivan, chief U.S. economist for High Frequency Economics. "Congress will eventually pass a bill that lowers tax rates and includes at least modest fiscal stimulus in 2018. We expect some failed attempts along the way, however."

What else is on investors' radar?

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news "Economy & Forex"
04:25pMagic City Ford Celebrates 80 Years and Expands with Acquisition and Addition of Chevrolet, Buick, GMC, Chrysler, Dodge, Jeep, and RAM Brands
SE
04:22pExclusive - Trump says not thrilled with Fed's Powell for raising rates
RE
04:22pAFBF AMERICAN FARM BUREAU FEDERATION : Purple Plow Announces Summer Challenge Winner and Launches Fall Challenge
PU
04:17pC&S WHOLESALE GROCERS : Employees at C&S Wholesale Grocers Corporate Headquarters Pack 100,000+ Meals
PU
04:17pISED INNOVATION SCIENCE AND ECONOMIC DEVELOPMEN : Minister Bains attends roundtable on digital and data transformation
PU
04:16pDollar falls ahead of U.S.-China trade talks, on Trump Fed criticism
RE
04:16pNEWS HIGHLIGHTS : Top Financial Services News of the Day
DJ
04:12pCanadian dollar posts 10-day high as Trump comments pressure greenback
RE
04:09pFirst Quantum worker dies at Cobre Panama project
RE
04:05pWall Street ends higher on optimism over trade talks
RE
Latest news "Economy & Forex"
Advertisement