Economic news

US bond yields are showing mixed dynamics

US Treasury bond yields are showing multidirectional dynamics, while market participants continue to evaluate statistical data in an attempt to clarify the prospects for the US economy.

The yield on 5-year Treasury bonds fell by 1.1 basis points, reaching 2.993%, while the yield on 30-year bonds was 3.179% (+5.7 basis points). Meanwhile, the yield on 2-year Treasury bonds, reflecting expectations of short-term interest rates, fell by 0.7 basis points to 2.92%, while the yield on 10-year bonds increased to 2.991% (+1.7 basis points).

Investors are also closely monitoring the situation in the stock market, which is under pressure due to high inflation, aggressive Fed rate hikes and fears of a recession. In the first half of the year, the S&P 500 index fell by 20.6%, which was the biggest drop for this period since 1970.

As for the US data, today at 13:45 GMT the manufacturing PMI from S&P Global for June will be released. Economists expect the index to decline to 52.4 points from 57.0 points in May. Meanwhile, at 14:00 GMT the ISM Manufacturing PMI for June will be published. Consensus estimates suggest a drop to 54.9 points from 56.1 points last month.

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