Menu

Search

  |   Commentary

Menu

  |   Commentary

Search

U.S. Treasury yields slump on safe-haven demand following concerns over global economic growth

The U.S. Treasury yields slumped during late European session Tuesday after returning from a long weekend, following concerns over global economic growth after the International Monetary Fund (IMF) downgraded estimates for global growth, projecting a 3.5 percent growth rate across the globe this year, and 3.6 percent for 2020.

The yield on the benchmark 10-year Treasuries plunged nearly 3 basis points to 2.755 percent, the super-long 30-year bond yields slumped 2-1/2 basis points to 3.070 percent and the yield on the short-term 2-year traded nearly 2 basis points lower at 2.595 percent by 11:35GMT.

Market sentiment towards risk assets worsened amid mounting concerns about a weakening global expansion. Following the release of data from China earlier this week which showed an annual GDP growth rate of 6.6 percent in 2018, the slowest pace in nearly 30 years, the IMF lowered its GDP global growth forecast for both 2019 and 2020 to 3.5 percent and 3.6 percent, respectively, in its updated January 2019 World Economic Outlook. Lingering US-China trade tensions and the ongoing uncertainty surrounding Brexit are not helping risk sentiment either, Eurobank Economic Analysis & Financial Markets Research reported.

In the US, today will bring just existing home sales data for December, which, following an improved showing the prior month, are expected to decline again back close to the bottom of the range of the past three years.         

Meanwhile, the S&P 500 Futures fell 0.80 percent to 2,650.12 by 11:40GMT, while at 11:00GMT, the FxWirePro's Hourly Dollar Strength Index remained neutral at 52.17 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex

  • ET PRO
  • Market Data

Market-moving news and views, 24 hours a day >

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 641414641414m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 641414641414m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 653234653234m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 641414641414m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 653234653234m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 641414641414m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 641414641414m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 641414641414m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.