Reduced Brexit fears drive Oughout S
By Richard Leong
NEW YORK, June 20 (Reuters) : U. S. Treasury produces rose on Monday along with longer-dated yields hitting their particular highest level in more than week, as investors trimmed safe-haven holdings associated with government debt due in order to polls showing increased support for Britain in which to stay the European kumpulan bokep SPG roko djarum Union.
The shift in polls to favoring "Bremain" over "Brexit" comes after last week's homicide of parliament member Jo Cox, who was simply a proponent for the U. K.
to remain part of the economic bloc.
U. S. policymakers including Federal government Reserve Chair Janet Yellen have said that the danger of Brexit, and the potential impact on the particular global economy, was a element in the Fed's choice to leave interest prices unchanged last week.
"The shift within the polls had been the primary news. Bonds were sold throughout the panel, but yields continue to be from relatively low levels, " said Andrew Richman, set income strategist at SunTrust Private Wealth Management in West Palm Beach, Florida.
Britons will cast their vote on whether their particular country should stay in the particular EU on Thursday.
Standard 10-year Treasury yields increased over 5 basis points from late Friday to 1. 671 percent right after reaching 1. 680 percent earlier on Monday.
The yield on 30-year provides was last 2. 473 percent, up 4 schedule points on the time.
Last week, the 10-year yield slid to its lowest level since Aug 2012 on Brexit concerns, the Bank of Japan's decision to refrain from embarking on more stimulus for the moment, and Fed officials' lowering their own outlook on the pace of rate increases.
Best Fed officials scaled back again their view on price hikes following a poor May jobs report and prolonged weakness in the manufacturing sector.
Meanwhile, investors awaited Yellen's two-day testimony before Congress, which starts on Wednesday, where she might provide clues on the timing of the central bank's next rate increase.
Interest rates futures implied traders saw a 46 percent chance that the Fed would raise rates by the end of 2016, down through 66 percent a month earlier, according to CME Group's FedWatch program.
As the Brexit referendum and Yellen's testimony are the week's main market events, investors may also contend with Treasury supply.
The Treasury Department sold $26 billion of two-year notes to moderate demand as direct bidders purchased the fewest two-year issue since January 2015.
Treasury will sell $34 billion in five-year records on Tuesday and $28 billion in seven-year information on Wednesday. It will auction $13 billion in two-year floating-rate notes plus $5 billion of 30-year Treasury inflation-protected securities upon Wednesday. (Editing by Jeffrey Benkoe and Leslie Adler)
