Treasury Yields Climb As Fears Of Trade-war Escalation Fade — BOND REPORT

Treasury Yields Climb As Fears Of Trade-war Escalation Fade — BOND REPORT”

In offshore trading, the Chinese yuan CNH= was last 0.33% higher at 7.1448 per dollar.

Equities were little changed across the region having climbed from intraday lows in thin trading. Mnuchin said issuing ultra-long US bonds is "under very serious consideration" in the Trump administration, possibly setting up a move that would mark a historic revamp of the $16 trillion Treasuries market. The dollar held near a two-year high.

USA and European shares advanced on Thursday as China struck a hopeful tone on trade relations with the United States and as Italy appeared close to forming a new government and resolving its political crisis.

Investor sentiment remains fragile after President Donald Trump's recent pronouncements on trade and as optimism for a resolution becomes more hard to sustain. Meanwhile, U.S. economic growth slowed in the second quarter by more than initially reported, on weaker readings for categories including exports and inventories. The figure though was slightly lower than the first GDP estimate that came out a few weeks ago. "That's the key. The earnings component was very good - corporate profits are looking robust".

USA crude settled 1.67% higher at $56.71 a barrel, while Brent settled at $61.08 a barrel, up 0.98%.

Mnuchin said his renewed interest in 50- or 100-year bonds was unrelated to the drop in yields on shorter-term USA debt, Bloomberg reported.

Among currencies, Argentina's peso ARS= rebounded after sinking more than 3% earlier in the day on the country's plans to extend the maturities on some $100 billion of its debt.

Bank of Korea policy decision and briefing is on Friday.

The yield on Australia's benchmark 10-year note, which moves inversely to its price, edged 1-1/2 basis points higher to 0.889 percent, the yield on the long-term 30-year bond rose 1 basis point to 1.479 percent while the yield on short-term 2-year remained flat at 0.724 percent by 04:55GMT.

Euro-zone CPI data for August is also due Friday.

On Wall Street, the Dow Jones Industrial Average rose 328.53 points, or 1.26 per cent, to 26,364.63, the S&P 500 gained 37.07 points, or 1.28 per cent, to 2,925.01 and the Nasdaq Composite added 116.32 points, or 1.48 per cent, to 7,973.21. The S&P 500 Index rose 0.7%.

West Texas Intermediate crude dipped 0.3% to $56.55 a barrel.Gold was little changed at $1,527.95 an ounce.

-With assistance from Vildana Hajric and Brandon Kochkodin.

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