US bond yields rise on strong data
February 16, 2006
US Treasury bonds traded very close to previous levels on Thursday as investors had several items of economic data to take into consideration while making buy and sell decisions.
New housing starts in the US were reported up in January and a report from the Federal Reserve Bank in Philadelphia showed a very strong increase in its February activity index. Meanwhile, new Fed chairman Ben Bernanke continued his testimony before Congress. Yesterday’s comments by Mr. Bernanke included his opinion that the inversion of the Treasury yield curve did not imply anything negative for the overall economic outlook in the US.
Immediately after the release of the Philadelphia Fed data, two-year bond yields had advanced by 0.3 basis points to 4.672 percent and ten-year yields were up 0.2 basis points to 4.602 percent.
Comments
Got something to say?
Advertisement
