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...It does seem likely that without having something exciting happening [like the UK’s 2022 gilts crisis] you could have a slow grind to higher term premia.”...
...Excluding bonuses, annual growth slowed from 6.2 per cent to 6.1 per cent....
...Also moving on Tuesday morning was the benchmark 10-year Treasury yield, which rose to a peak of 4.4 per cent, its highest level since November....
...Benchmark 10-year UK government bonds currently yield 4.1 per cent, having remained below 2 per cent between 2016 and 2022 before the Bank of England was forced to dramatically increase interest rates to...
...The euro and sterling fell to their weakest levels against the dollar since November on Friday at $1.0642 and $1.245, respectively, while the yen sank to a 34-year low, before recovering to ¥153.28....
...On Friday the S&P gained 1.1 per cent following the jobs figures, having fallen earlier in the week....
...1.4 per cent for Germany....
...The federal deficit stood at $1.7tn last year....
...Eurozone inflation has fallen from a 2022 peak of 10.6 per cent to 2.4 per cent in March — tantalisingly close to the central bank’s goal....
...Traders are pricing 1.04 percentage points of cuts in 2024, down from 1.24 percentage points earlier on Wednesday....
...Benchmark 10-year borrowing costs have risen to 4.2 per cent from 4 per cent in March and 3.6 per cent at the start of the year....
...The so-called spread, or gap, between 10-year borrowing costs in Italy and Germany sank to 1.16 percentage points on Thursday, its lowest level since November 2021, before rising back to 1.28 percentage...
...The yield on benchmark 10-year US Treasuries was down 0.1 percentage point at 3.96 per cent, while the yield on interest rate sensitive two-year Treasuries fell 0.13 percentage points to 4.23 per cent....
...Treasury insiders say the UK chancellor is looking at “further spending restraint” after 2025, if official forecasts suggest he does not have enough fiscal headroom to pay for “smart tax cuts”....
...Capital Economics forecasts the 10 year gilt yield will fall from its current level of 3.93 per cent to 3.25 per cent by the end of the year....
...The forint has been among the 10 worst, down 3.9 per cent....
...Inès Cross The Standard, London, until 22 June SEE Mary Lovelace O’Neal at Marianne Boesky After a 60-year career, Mary Lovelace O’Neal shows no signs of slowing down....
...The dovish comments sent benchmark German Bund yields down 0.1 percentage points to 2.24 per cent, the lowest level since early June, and yields on 10-year Italian debt 0.11 percentage points lower to 4.00...
...Benchmark 10-year gilt yields were down 0.04 percentage points on the day at 4.07 per cent. Sterling edged down 0.1 per cent to $1.2528....
...“Where does the angry vote go?”...
...Interest rate sensitive two-year gilt yields fell 0.1 percentage points to 4.49 per cent, while benchmark 10-year gilt yields also dropped 0.1 percentage point, to 3.98 per cent....
...US consumer prices rose 3.1 per cent in the year to November, compared with 9.1 per cent in the 12 months to June 2022....
...Yields on 10-year Italian debt fell 0.09 percentage points to 4.02 per cent....
...Markets are pricing in 1.3 percentage points of ECB cuts this year....
...Yields on 10-year Italian debt fell 0.08 percentage points to 3.73 per cent, while French government bond yields fell 0.1 percentage points to 2.56 per cent....
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