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Treasury yields tiptoe higher after subsiding geopolitical tensions and upbeat data

U.S. Treasury bonds stabilized, with the benchmark 10-year yield staging a slight recovery from a nine-month low, on Wednesday a day after bonds drew bids on the back of intensifying fears about military tensions in the Korean Peninsula after a missile launch briefly rattled global markets.

Traders also kept one eye on flooding in the Houston area after then-Hurricane Harvey wreaked havoc on the fourth largest U.S. city, flooding its metropolis, causing billions of dollars of damage, and hobbling one of the premiere crude-oil CLV7, -0.69% refining hubs in the country.

However, markets were steadying somewhat after a strong raft of economic data and the easing of geopolitical tensions, highlighted by Tuesday’s recovery in the Dow Jones Industrial Average DJIA, +0.03% S&P 500 SPX, +0.13% and the Nasdaq Composite COMP, +0.42% which all ended in positive territory, albeit in seasonally low volume trade ahead of the Labor Day holiday, after spending much of the trading session in the red.

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