GLOBAL MARKETS-Stocks, bond yields fall on Greece worries, US data

30 May 2015 | Author: | No comments yet »

euronews live TVNEW YORK (Reuters) – Global equity markets and bond yields both fell on Friday, as data showed the U.S. economy contracted in the first quarter and as investors were unnerved by mixed signals from Greece’s debt talks. Conflicting reports that Athens was close to clinching a reforms-for-cash deal with its creditors pushed German 10-year bond yields down 4 basis points to just under 0.50 percent. “It’s just Greece, Greece and Greece,” said David Madden, a market analyst at IG in London. “The lack of news in either direction tells you why traders are sitting on their hands.” U.S. debt yields also dropped, with the 30-year U.S. Treasury yield falling to its lowest level in three and a half weeks, at 2.84 percent, while benchmark U.S. 10-year yields hit a three-and-a-half-week low at 2.097 percent. Consumer sentiment fell this month, a survey by the University of Michigan showed, while the Institute for Supply Management-Chicago Business Barometer unexpectedly fell in May.

Higher rates would crimp bond prices, which move inversely to their yields. “The market simply doesn’t believe the data will be strong enough to let the Fed (boost rates) this year,” said Aaron Kohli, interest rate strategist at BNP Paribas in New York. The dollar index was down 0.06 percent at 96.902 and remained on track for a rise in May, resuming a string of nearly uninterrupted monthly gains that began last July.

Here you can write a commentary on the recording "GLOBAL MARKETS-Stocks, bond yields fall on Greece worries, US data".

* Required fields
Twitter-news
Our partners
Follow us
Contact us
Our contacts

About this site