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Bond bulls in charge as 10-year hits new 2017 low

Published 04/18/2017, 10:29 AM
© Reuters.  Bond bulls in charge as 10-year hits new 2017 low
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  • The 10-year Treasury yield is down another five basis points to 2.20% this morning, matching yesterday's intraday low, and now at a level not seen since just a few days after November's election (it stood at about 1.9% prior to the Trump victory).
  • In economic news today, housing starts for March missed estimates, but the trend remains strong. In equity markets, stocks here are down only modestly, but lower by nearly 1% in Europe.
  • Looking at short-term rate markets, they're pricing in only a little more than one rate hike for the rest of the year, even as most Fed speakers are promising two-three more moves.
  • TLT +0.8%, TBT -1.6%


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