by Thu, 08 Jul 2010 11:21:00 +0200
US treasuries mostly flat on improved market sentiment
FXstreet.com (Barcelona) - With investors contemplating the next round of note and bond auctions, US securities are by-and-large flat today after Wall Street’s sudden rally on hopeful private earnings forecasts. Currently all notes between 2 and 10 years are up 1/32 while the 30-year bond is up 5/32 dropping the yield to 3.950.
Treasuries have performed exceptionally well in recent weeks due to the high risk aversion spreading throughout the market because of disappointing economic fundamentals. However, with little economic information to go on yesterday investors focused on a upbeat earnings forecast for money-manager State Street, pushing the financial shares sharply higher. With the sudden change in sentiment, traders are looking forward to hopefully positive reports when second quarter earnings seasons gets under way next week.
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