Interest Rate and Treasuries Market Recap

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July 26th, 2012

September 30-Year Bonds came under heavy selling pressure during the early morning hours, pressured by comments from ECB President Draghi vowing to support the Euro. Some traders took the comments as an indication that the ECB might be close to another round of asset purchases. The comments fueled risk-taking sentiment, which tamped down safety demand for Treasuries. Further pressure in the Bond came from a pair of US economic data points this morning that came in better than expected. Today’s 7-Year Note auction wrapped up this week’s issuance and recorded another record low yield. September 30-Year Bonds stabilized throughout the remainder of the session, perhaps in preparation of tomorrow’s second quarter GDP data..
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