Interest Rate and Treasuries Market Recap

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August 13th, 2012

September 30-Year Bonds rallied during the early US trading hours, helped by weakness in global equity markets, concerns over slowing economic growth and ideas that last week’s decline might have been overextended. Early support in the Treasury market came in response to weaker than expected economic data in Japan, which seemed to underscore the threat of a slowing global growth. The US Fed bought nearly $2.0 billion of longer-dated Treasuries earlier in the session as part of their operation twist program, and that might have lent a level of support to the Bond market during the later morning hours. September 30-Year Bonds traded to a new five day high, but were unable to hold gains above the 149-00 level going into the close. The market receives the latest second quarter growth data out of the Euro zone tomorrow morning, followed by July US Retail Sales and Producer Prices.

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