Reduced Brexit fears drive Oughout S
By Richard Leong
NEW YOU ARE ABLE TO, June 20 (Reuters) - U. S. Treasury produces rose on Monday along with longer-dated yields hitting their highest level in a lot more than week, as traders trimmed safe-haven holdings of government debt due to polls showing increased support for Britain in which to stay the particular European Union.
The shift in polls to favoring "Bremain" over "Brexit" comes after last week's murder 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 stated that the danger of Brexit, and its potential impact on the global economy, was a aspect in the Fed's decision to leave interest rates unchanged last week.
"The shift in the polls has been the primary news. Bonds were sold over the table, but yields are still from relatively low levels, " said Andrew Richman, fixed income strategist at SunTrust Private Wealth Management within West Palm Beach, Florida.
Britons will cast their particular vote on whether their particular country should remain in the EU on Thursday.
Standard 10-year Treasury yields rose over 5 basis factors from late Friday to 1. 671 percent after reaching 1. 680 percent earlier on Monday.
The yield on 30-year bonds was last 2. 473 percent, up 4 foundation points on the time.
Last week, the 10-year yield slid to its lowest level since Aug 2012 on Brexit fears, the Bank of Japan's decision to refrain from embarking on more stimulus for the moment, and Fed officials' lowering their particular outlook on the speed of rate increases.
Best Fed officials scaled back their view on price hikes carrying out a poor Might jobs report and prolonged weakness in the manufacturing field.
Meanwhile, investors awaited Yellen's two-day testimony before Congress, which starts on Wednesday, where she might provide clues within the timing of bokep stw the central bank's next rate increase.
Rates of interest futures implied traders saw a 46 percent chance that the Fed would raise rates by the end of 2016, down from 66 percent a 30 days earlier, according to CME Group's FedWatch program.
As the Brexit referendum and Yellen's testimony are the week's main market events, investors will even contend with Treasury supply.
The Treasury Department sold $26 billion associated with two-year notes to reasonable demand as direct buyers purchased the fewest two-year issue since January 2015.
Treasury will sell $34 billion in five-year notes on Tuesday and $28 billion in seven-year records on Wednesday. It may auction $13 billion within two-year floating-rate notes plus $5 billion of 30-year Treasury inflation-protected securities on Wednesday. (Editing by Jeffrey Benkoe and Leslie Adler)
