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Yahoo
19 minutes ago
- Yahoo
Treasuries Extend Drop as Pressures Build on Longer-Dated Debt
(Bloomberg) -- US Treasuries fell for a fifth day as demand for long-term government debt wanes amid a flurry of bond auctions this week. Are Tourists Ruining Europe? How Locals Are Pushing Back Denver City Hall Takes a Page From NASA In California, Pro-Housing 'Abundance' Fans Rewrite an Environmental Landmark Can Americans Just Stop Building New Highways? Treasuries slipped across the curve Tuesday, pushing yields two to four basis points higher and the 30 year approaching 5% for the first time since May. Yields have been rising as investors pare bets on the Federal Reserve's interest-rate cuts following a jobs report that revealed a surprisingly resilient US labor market. Interest-rate swaps show traders leaning toward a cut in September with two, quarter-point reductions by the end of the year. 'It's been typical to see consolidation coming out of the employment numbers into long end supply,' said Gregory Faranello, head of US rates trading and strategy for AmeriVet Securities. 'Our mantra on lower yields remains the same: It needs to be economic, Fed driven.' Earlier on Tuesday, long-dated Japanese bonds sold off, sending a fresh wave of jitters through global markets and pushing yields on German bunds higher. Long bonds are suffering as many of the traditional buyers withdraw from the market even as supply expands. Such securities tend to attract a smaller pool of investors due to their greater interest-rate risk, with moves often exacerbated by lower liquidity. Last week, gilts sold off rapidly on concern about the nation's fiscal outlook. This week, Japan is in focus with investors weighing if politicians will increase spending in the run-up to July 20 elections in the upper house. The yield on 30-year securities there approached a record, reverberating through other markets. 'Long rates are ugly across the globe, all bear steepening,' said Andrew Brenner, head of international fixed income at NatAlliance Securities. At the same time, Treasuries are caught up in a mix of sometimes contradictory risks surrounding Donald Trump's trade tariff drama, US fiscal policy and the outlook for the Fed. Trump's tax-and-spending bill, which he signed last week, is projected to widen the deficit, keeping bond supply concerns in focus. The week's Treasury auction cycle of three- and 10-year notes and 30-year bonds kicks off later on Tuesday. Trump on Monday unveiled letters threatening key trading partners with high tariff rates, though he's left room for negotiations to continue and so far there's little sign of read-through to the US economy. 'Fears that uncertainty over tariffs would cause companies to cut back on hiring have so far proved unfounded,' said Mark Haefele, Chief Investment Officer at UBS Global Wealth Management. --With assistance from Carter Johnson. Will Trade War Make South India the Next Manufacturing Hub? 'Telecom Is the New Tequila': Behind the Celebrity Wireless Boom SNAP Cuts in Big Tax Bill Will Hit a Lot of Trump Voters Too For Brazil's Criminals, Coffee Beans Are the Target Pistachios Are Everywhere Right Now, Not Just in Dubai Chocolate ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
20 minutes ago
- Bloomberg
Boeing Delivers Most Jets in 18 Months With Boost From Beijing
Boeing Co. said it delivered 60 aircraft in June, its best showing in 18 months that reflects improvements in its factories and the resumption of US jet exports to China. The US planemaker handed over 42 of its 737 Max models last month, the most since a near-catastrophe plunged it into crisis in early 2024. Eight of Boeing's deliveries went to China after President Donald Trump and Chinese leader Xi Jinping backed away from a showdown over tariffs.
Bloomberg
21 minutes ago
- Bloomberg
If Housing Crashes So Will the Stock Market Says Brad Case
Brad Case, Chief Economist at Middleburg Communities, joins Bloomberg Surveillance joins to talk about pressures on a frozen housing market, whether the Fed is behind the curve, and the risks of reigniting inflation. (Source: Bloomberg)
