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Bond Report: Treasury yields drift lower as summer trading cools

U.S. Treasury prices rose, pushing yields lower on Tuesday, amid muted summer trading volumes.

A drop in oil prices, which took a turn lower after Monday’s sharp rally, curbed appetite for stocks and fueled demand for haven assets, mainly gold and government bonds.

Analysts also pointed to a well-received auction of Japanese government bonds overnight as supporting the bid for Treasury bonds. Japan’s Ministry of Finance auctioned 800 billion yen ($7.82 billion) in 30-year bonds on Tuesday.

“There was trepidation with JGB auction given all the stimulus from the central bank, but in the end, the auction was well received and that stabilized U.S.

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