Government bond prices were higher on Monday across the board as investors remained cautious amid rising political uncertainly in Europe and ahead of the United State Federal Reserve's meeting on March 15.
The US monetary policymakers are widely expected to raise the cost of borrowing by 25 basic points when they meet an Wednesday, although analysts think they will not signal a faster pace in rate hikes than the three increases initially projected for this year. The language of the Federal Open Market Committee's policy statement is also likely to change in case, market watcher believe, as recent employment and inflation data for the US remained largely in line with expectations, with headline inflation moving closer to the Fed's 2% target.
The yield on 10-year Treasuries eased to 2.5655% at 9.38 am CET, while the yield on two-year debt declined to 1.3476%. The yield on 30-year bonds decreased to 3.1531%. In Europe, the yield on 10-year German Bunds, a benchmark for the Eurozone, dropped to 0.462% while the yield on British gilts of the same maturity slipped to 1.209% at the same time. Bond yields move in the opposite direction relative to prices.
Lates news [3/13/17] 16.53.00
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