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U.S. 10-year Treasury yield likely to drift lower going forward, stay consistent with US fundamentals: Scotiabank

Wednesday, November 21, 2018 6:34 AM UTC
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The United States’ 10-year Treasury yield is expected to drift lower in general going forward, staying consistent with US fundamentals, according to the latest research report from Scotiabank.

The recent US stock selloff sparked risk aversion that has pulled the 10-year UST yield markedly lower. As we know, a stock market retreat if it deepens would noticeably curtail personal spending and economic growth, known as the wealth effect.

US Democrats winning back the House will dim chances for major stimulus initiative, eliminate the potential for more tax cuts and lower the nation’s future debt deficit. It is expected to drag down US economic growth in the year of 2019.

Further, a wider yield spread arising from a lower 10-year UST yield is expected to revive risk appetite in the coming sessions and prop up EM Asian currencies once again, although it could be temporary, the report added.

Top White House economic adviser Larry Kudlow said in an interview with Fox Business Network Tuesday that President Donald Trump is trying to "inject a note of optimism" into trade talks with China ahead of the planned meeting with Chinese President Xi Jinping.

Meanwhile, the US stock rout will raise the chance to deescalate US-China trade tensions at the upcoming Trump-Xi Summit set for December 1, although the Office of the USTR on Tuesday released a detailed 53-page report that accused China of continuing a state-backed campaign of intellectual property and technology theft.

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2019-02-22 01:03:05
0m
JAPAN FINMIN ASO: TRUMP AND JAPAN PM ABE HAVE AGREED FX IS A MATTER DISCUSSED BETWEEN RESPECTIVE FINANCE MINISTERS
2019-02-22 01:02:55
0m
JAPAN FINMIN ASO: US PRESIDENT TRUMP HAS NOT MENTIONED CURRENCIES WHEN DISCUSSING TRADE ISSUES WITH JAPAN
2019-02-22 01:02:30
0m
JGB 10-YEAR FUTURES OPEN DOWN 0.06 POINT
2019-02-22 01:02:03
0m
TAIWAN STOCKS OPEN DOWN 0.1 PCT AT 10,309.02 POINTS
2019-02-22 01:00:12
0m
SEOUL SHARES OPEN DOWN 0.28 PCT
2019-02-22 01:00:00
0m
SOUTH KOREAN WON OPENS ONSHORE TRADE AT 1,126.4 PER DOLLAR VS 1,125.2 AT PREVIOUS CLOSE
2019-02-22 00:59:37
0m
TOKYO'S NIKKEI SHARE AVERAGE OPENS DOWN 0.41 PCT AT 21,376.36
2019-02-21 23:36:08
0m
JAPAN JAN 2019 CPI LESS FOOD AND ENERGY INCREASE TO 101.4 VS PREV 101.2
2019-02-21 23:36:06
0m
JAPAN JAN 2019 CPI NATIONWIDE EXCL FOOD & ENERGY M/M INCREASE TO -0.2 %
2019-02-21 23:36:05
0m
JAPAN JAN 2019 CPI NATIONWIDE EXCL FOOD & ENERGY Y/Y INCREASE TO 0.4 % VS PREV 0.3 %
2019-02-21 23:36:03
0m
JAPAN JAN 2019 CPI NSA STAYS FLAT AT 101.5 VS PREV 101.5
2019-02-21 23:36:01
0m
JAPAN JAN 2019 CPI INDEX EX FRESH FOOD DECREASE TO 101.2 VS PREV 101.4
2019-02-21 23:30:09
0m
JAPAN JAN 2019 CPI, OVERALL NATIONWIDE DECREASE TO 0.2 % VS PREV 0.3 %
2019-02-21 23:30:07
0m
JAPAN JAN 2019 CPI EX FRESH FD AND ENG INCREASE TO 0.4 % VS PREV 0.3 %
2019-02-21 23:30:03
0m
JAPAN JAN 2019 CPI, CORE NATIONWIDE YY INCREASE TO 0.8 % (FCAST 0.8 %) VS PREV 0.7 %
2019-02-21 21:03:10
0m
BRAZIL'S BOVESPA CLOSED AT 96,589.57, UP +0.05%
2019-02-21 21:01:49
0m
CANADA'S S&P/TSX COMPOSITE CLOSED AT 16,013.61, DOWN -0.11%
2019-02-21 21:00:45
0m
NASDAQ UNOFFICIALLY CLOSES DOWN 29.44 POINTS, OR 0.39 PERCENT, AT 7,459.63
2019-02-21 21:00:32
0m
S&P 500 UNOFFICIALLY CLOSES DOWN 10.00 POINTS, OR 0.36 PERCENT, AT 2,774.70
2019-02-21 21:00:21
0m
DOW JONES UNOFFICIALLY CLOSES DOWN 104.72 POINTS, OR 0.40 PERCENT, AT 25,849.72
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Economics Monitor

February 21 23:30 UTC Released

JPCPI Less Food and Energy

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101.4 Index

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February 21 23:30 UTC Released

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-0.2 Percent

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-1541 %

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January 31 00:00 UTC 557346557346m

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January 31 00:00 UTC 557346557346m

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2016 bln ARS

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