Economy

US Treasurys lower on geopolitical fears; Yellen speech in focus

US Treasurys lower on geopolitical fears; Yellen speech in focus”

The yen made sharp gains versus the greenback on Monday after the North Korean foreign minister said President Donald Trump had declared war on the country and that Pyongyang reserved the right to take countermeasures, including shooting down USA bombers even if not in its air space.

"What is Trump going to do: Is he going to escalate or will he rein it in?"

The White House spokeswoman said at a press briefing that the United States had not declared war on North Korea and to suggest that is "absurd".

A stronger US dollar weighed on emerging market stocks .MSCIEF , which lost 1.27 percent, the most in over four months.

German Chancellor Angela Merkel, who won a fourth term in elections on Sunday but now faces a tough juggling act to form a government with other parties, on Monday struck a note of caution with respect to French calls for fiscal union. The U.S. Dollar Index edged up by 0.58 percent to 92.86 as of 1822 GMT. "There is some uncertainty (over that) in the market now against the background of the German elections".

The Japanese yen strengthened 0.29 percent versus the greenback at 111.66 per dollar, while Sterling was last trading at $1.3469, down 0.16 percent on the day.

The euro has been one of the best performing currencies against the greenback this year, having gained more than 13 percent against the dollar.

The U.S. dollar also benefited from a New Zealand election which left the ruling National Party short of the necessary votes to rule without forming a coalition.

US crude CLc1 rose 2.96 percent to $52.16 per barrel and Brent LCOc1 was last at $58.63, up 3.92 percent on the day.

Gold held steady on Tuesday after rising more than 1% in the previous session, supported by safe-haven demand amid rising tension surrounding North Korea and as the dollar eased from near three-week highs.

"The dollar tends to fall on flare-ups in North Korean-related matters, but whether the Federal Reserve can hike interest rates in December as they projected still remains the ultimate decider (of dollar direction)", said Shin Kadota, senior strategist at Barclays in Tokyo.

Benchmark 10-year notes US10YT=RR last rose 12/32 in price to yield 2.2216 percent, from 2.262 percent late on Friday.

The 30-year bond last rose 20/32 in price to yield 2.7654 percent, from 2.796 percent late on Friday.

Spot gold was almost unchanged at $1,310.61/oz at 3.39am GMT, not far from Monday's high of $1,311.50, when it marked its biggest intraday percentage gain since September 7.

The most active gold contract for December delivery rose 14 dollars, or 1.08 percent, to settle at 1311.50 dollars per ounce.

Palladium rose 0.5% to $914.70/oz.



Like this

loading...
loading...

Latest


26 September 2017
South Korean Stocks, Won Fall as North Korea-US Spat Heightens
In corporate news, the sale of Toshiba's memory chip unit to a group led by Bain Capital for $18 billion US had yet to be signed. Japan's Nikkei 225 sank 0.28% after the yen strengthened overnight as investors focused on North Korea.

26 September 2017
Lenovo K8 arrives in India, priced at INR 10499
The K8 is backed by a 3GB of RAM along with a 32GB of internal storage, which can be further expandable in nature. Connectivity options in the smartphone include 4G LTE, VoLTE, WiFi 820.11 b/g/n, Bluetooth 4.2, GPS, and USB OTG.

26 September 2017
Microsoft is targeting VMWare customers with its new cloud migration service
Now, Microsoft provides a new way to transfer a ridiculous amount of data (100TB ) with a rugged 45-pound Data Box to Azure. All of these updates and enhancements for Azure continue to show Microsoft's commitment to its cloud service.

26 September 2017
Kite Realty Group Trust (KRG) Raised to Hold at Zacks Investment Research
After $1.32 actual EPS reported by Facebook Inc for the previous quarter, Wall Street now forecasts -3.03% negative EPS growth. It increased, as 48 investors sold FB shares while 553 reduced holdings. 81 funds opened positions while 71 raised stakes.

26 September 2017
Carnival to build fourth ship for Cunard
The line continues to offer additional bar, dining and entertainment options, plus brand partnerships. The new yet-to-be-named vessel will be the 249th ship to sail for Cunard , which was founded in 1839.

26 September 2017
London Tower Hill Station Blast Results In Injuries
Some who were on the platform at the time said they saw an unidentified item " hissing and smoking " in a train carriage. Police have evacuated Tower Hill tube station in London amid reports a bag has exploded on a train.

26 September 2017
EMS Capital LP Cuts Stake in Amazon.com, Inc
Amazon.com, Inc. (NASDAQ: AMZN ) is 3.3% above its 200-day moving average, providing a measure of resistance for long positions. Atalanta Sosnoff Capital Limited Co has 104,619 shares. 37,808 are owned by One Cap Management Ltd Liability Corp.

26 September 2017
Chicago cops face reprimand for 'taking a knee' in Instagram photo
Two Chicago police officers knelt alongside a community activist over the weekend and are now being reprimanded. Guglielmi said officers involved were reprimanded and counseled on department policy.

26 September 2017
May and Varadkar to discuss Brexit plans
IFA president Joe Healy says the British Prime Minister's Brexit speech in Italy on Friday was disappointing. The Government is working on a "practical solution" to deal with the border issue, Downing Street said.

26 September 2017
Kevin Durant is glad Golden State won't be visiting the White House
Commissioner Roger Goodell, who has taken heat for Kaepernick's struggle to find a team , quickly condemned Trump's comments. He has shown, since the beginning, his dehumanized nature. "I'm not sure how those two things would be combined", she said.