Authorities bond yields fall as client confidence falls
The US 10-year Treasury yield fell further on Friday, briefly falling below 1.3% after US consumer sentiment fell to its lowest level since December 2011, according to the University of Michigan.
The benchmark ten-year government bond yield fell 8 basis points to 1.287% at 4:10 p.m. ET. The yield on the 30-year government bond fell 9 basis points to fall to 1.937%. The returns move in the opposite direction to the prices and one basis point corresponds to 0.01%.
US consumer confidence fell to its lowest level since 2011 in August as fears about the Delta option and the reopening of the economy continued to grow. The consumer sentiment index fell 13% from July to 70.2, the University of Michigan reported on Friday. Economists polled by Dow Jones expected a value of 81.3 for August.
Yields fell earlier in the day after the Labor Department reported mixed data on Thursday showing that 375,000 jobless claims were filed last week, in line with economists’ projections. Meanwhile, in July, excluding volatile food, trade services and energy components, the producer price index rose 0.9% last month, up from a forecast increase of 0.5%.
That data followed the July consumer price index release on Wednesday, which showed core inflation had risen less than expected last month.
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– CNBC’s Yun Li contributed to this market report.