You are viewing an obsolete version of the DU website which is no longer
supported by the Administrators.
Visit
The New DU. Reply #31: US Treasuries slip ahead of FOMC, 5-year auction
[View All]
UpInArms
(1000+ posts)
Send PM |
Profile |
Ignore
|
Wed Jun-28-06 08:02 AM
Response to Reply #29 |
| 31. US Treasuries slip ahead of FOMC, 5-year auction |
|
http://today.reuters.com/misc/PrinterFriendlyPopup.aspx?type=bondsNews&storyID=2006-06-28T125503Z_01_N28278579_RTRIDST_0_MARKETS-BONDS.XMLCHICAGO, June 28 (Reuters) - U.S. Treasury debt prices were marginally lower early on Wednesday as the market braced for the start of a two-day Federal Open Market Committee meeting expected to result in another interest rate increase.
The entire curve shows yields just below 5.25 percent, the anticipated federal funds rate after Thursday's FOMC rate decision.
<snip>
The Treasury will auction $14 billion in new five year-notes at 1 p.m. EDT (1700 GMT).
Some dealers fear relatively weak demand from indirect bidders -- the group that includes foreign central banks. Indirect bidders have bought 27.2 percent, on average, at the past six five-year auctions.
"The auction and set-up for the FOMC statement should be the focus of the day. With a 25 basis point hike for August almost priced in, the risk is that the language in the statement is slightly less hawkish," said strategists at BNP Paribas.
...more...
|
Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators
Important Notices: By participating on this discussion
board, visitors agree to abide by the rules outlined on our Rules
page. Messages posted on the Democratic Underground Discussion Forums are the
opinions of the individuals who post them, and do not necessarily represent
the opinions of Democratic Underground, LLC.
Printer-friendly format
Email this thread to a friend
Bookmark this thread