Bond prices higher after global sell-off; Trump policies eyed
Bond prices higher after global sell-off; Trump policies eyed
Sam Meredith | @smeredith19
25 Mins Ago
CNBC.com
U.S. government debt prices were higher on Tuesday morning as investors eyed President-elect Donald Trump's future policies, a slew of economic data reports and reacted to a global bond sell-off at the start of the trading week.
A bond market rout had been sparked by investors predicting Trump's economic plan would likely return the U.S to inflation, which typically has an adverse impact on bonds.
The yield on the benchmark 10-year Treasury notes was 1.2 basis points lower at around 2.21 percent, while the yield on the 30-year Treasury bond was also lower at 2.96 percent. Investors will also be focusing on a $65 billion auction in four-week bills on Tuesday.
Renewed optimism over OPEC meeting
On the data front, Tuesday will see retail sales, import and export price figures and the Empire state survey which are all set to be released at 8.30 E.T. A little later in the morning, at 10am E.T., Business Inventories are to be released.
In oil markets, Brent crude traded at around $45.34 a barrel on Tuesday morning, up 2.05 percent, while U.S. crude was around $44.37 a barrel, up 2.42 percent, recovering from multi-month lows the day previous as renewed expectations that OPEC could deliver cuts to production at a key meeting later this month boosted the commodity, according to a Reuters report.
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