Today’s report of a rise in the U.S. trade deficit and the large drop in unemployment claims due to a non-reporting “large” state have not improved the U.S. economic outlook, and the rising yields on the very long-term bonds reflects that. US equity markets are got an early boost today from four strong IPOs, but the markets have pulled back in afternoon trading.
The 10-year Treasury yields initially fell after the 30-year note auction, but later posted a gain for the day, as did the 30-year yields.
Paul Ausick
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