Treasuries Fall Amid Gains for Risk Assets, EGB Selloff
- Declines extended after 2-year auction yield tops expectation
- Yields rise after testing 50-day moving averages Monday
Is It the End of the Bond Bull Market?
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Treasuries fell Tuesday amid supply-induced weakness in most European government bond markets, a poor reception for an auction of 2-year notes and gains for U.S. stocks that pushed the S&P 500 to a record.
U.S. yields were higher by 5-8 basis points at about 3 p.m. in New York, erasing Monday’s declines that reflected concern about the economic impact of trade protectionism Trump administration is pursuing. The 10-year yield was higher by 7 basis points at 2.465 percent versus increases of 4-7 basis points for most euro-zone 10-year yields, which climbed into the European close amid a wave of syndicated deals including a French 20-year maturity, a Spanish 10-year and a U.K. 40-year.