US Treasuries See Profit Taking, US Dollar At 13 Month Highs

Posted by: : Paul EbelingPosted on: September 2, 2014 US Treasuries See Profit Taking, US Dollar At 13 Month Highs

US Treasuries See Profit Taking, US Dollar At 13 Month Highs

10-Yr: -20/32..2.416%.. USD/JPY: 105.15.. EUR/USD: 1.3127

It was a down day for the US Treasury market that followed course with European sovereign bond markets.

The 10-yr T-Note finished on its low for the day.

Selling pressure was seen across the curve, although longer-dated securities bore the brunt of the selling interest

2-yr Note +3 bps to 0.52%
10-yr Note +7 bps to 2.42%
30-yr Bond +9 bps to 3.17%

The reason for the weakness fell along the following lines: an unwinding of some safe-haven trades following a holiday weekend that did not feature a flare-up of geopolitical conflict, and profit taking following a big run of late.

US Dollar (.DXY) Index +0.2% to 82.98

  • USD/JPY at 105.15 (+0.8%) with the Yen hitting its weakest marks Vs. the Buck since January
  • EUR/USD at 1.3127, looking at its weakest mark since September 2013.

Stay tuned…

HeffX-LTN

Paul Ebeling

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Paul Ebeling

Pattern Recognition Analyst, equities, commodities, forex
Paul Ebeling is best known for his work as writer and publisher of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly-regarded, weekly financial market letter, where he enjoys an international audience among opinion makers, business leaders, and respected organizations. Something of a pioneer in online stock market and commodities discussion and analysis, Ebeling has been online since 1994. He has studied and worked in the global financial and stock markets since 1984.
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