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U.S. Treasuries flat in muted session; Trump’s comments over Fed drag yields lower overnight

The U.S. Treasury yields remained flat during late European session Friday, after moving lower overnight, following President Donald Trump’s pessimistic comments over the Federal Reserve’s rate hikes, besides threatening markets with a worse action on Russia if Putin fails to maintain relationship with the former.

The yield on the benchmark 10-year Treasuries steadied at 2.84 percent, the super-long 30-year bond yields flat at 3.00 percent and the yield on the short-term 2-year hovered around 2.59 percent by 11:00GMT.

Yesterday President Trump told viewers of CNBC that he was "not thrilled" by the Fed’s ongoing rate hikes, which according to Trump were undermining all the good work he was doing for the US economy. Trump added "I am not happy about it. But at the same time I’m letting them do what they feel is best".

Despite the caveat, and the recognition that the President’s leverage over the Fed is now limited having made (credible) appointments to the board of governors, investors responded negatively to the rather un-presidential intervention with a decline in financial stocks leading the S&P500 to an admittedly modest 0.4 percent loss on the day, while US Treasury yields also moved slightly lower (having earlier yesterday moved close to 2.90 percent for the first time in more than three weeks), and the dollar fell back in trade-weighted terms too.         

Meanwhile, the S&P 500 Futures remained 0.20 percent lower at 2,799.50 by 11:10GMT, while at 11:00GMT, the FxWirePro's Hourly Dollar Strength Index remained slightly bullish at 55.49 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex

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April 19 12:30 UTC Released

USHouse Starts MM: Change

Actual

-0.3 %

Forecast

Previous

-8.7 %

April 19 12:30 UTC Released

USHousing Starts Number MM

Actual

1.139 Mln

Forecast

1.23 Mln

Previous

1.162 Mln

January 31 00:00 UTC 639049639049m

ARAnnual Primary Balance*

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Forecast

2016 bln ARS

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Bln AR bln ARS

January 31 00:00 UTC 639049639049m

ARAnnual Primary Balance*

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Forecast

2016 bln ARS

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Bln AR bln ARS

January 22 19:00 UTC 650869650869m

ARTrade Balance

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Forecast

Previous

-1541 %

January 31 00:00 UTC 639049639049m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 650869650869m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 639049639049m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 639049639049m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 639049639049m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

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