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    Treasury yields slide as investors digest Omicron data

    Treasury yields fell on Monday after a long holiday weekend as investors evaluated Omicron’s threat.

    Benchmark yield 10-year government bond It fell by 1 basis point to 1.4807% around 3:00 EST, but 30-year government bond 2 Reduced basis points to 1.880%. Yield is inversely proportional to price, and one basis point is equivalent to 0.01%.

    The bond market was closed for the Christmas holidays on Friday, December 24th.

    Investors are encouraged by some Positive news about Omicroncovid variants.. A South African study published last week showed that people infected with the Omicron coronavirus variant are 80% less likely to be hospitalized than if they were infected with other strains. Elsewhere, Scottish and British studies seem to support South African findings.

    Dr. Anthony Fauci, an infectious disease expert in the United States, said on Sunday that cases of Covid-19 are likely to continue to surge as Omicron variants spread rapidly around the world.

    “It’s rising every day. Last week’s average was about 150,000, and it’s likely to be much higher,” Fauci said in ABC’s “this week.”

    According to Johns Hopkins University, the United States has reported more than 52 million cases in total. Driving the surge is a variant of Omicron, which was taken over as the predominant strain earlier this month.

    Numerous economic data last Thursday showed a stable economy with high levels of inflation, although labor and spending trends have improved. The Core Consumer Expenditure Index, which is closely monitored by the Federal Reserve Board, rose 0.6% in November from the previous month. Core PCE in November rose 4.7% year-on-year, surpassing expectations of 4.5%.

    The Dallas Fed’s Manufacturing Index will be released at 10:30 EST on Monday’s datafront.

    As the stock market resumed trading on Monday Europe’s share was almost low Meanwhile, US futures showed a low opening on Wall Street.

    — CNBC’s Jessica Bursztynsky contributed to this article.

    Treasury yields slide as investors digest Omicron data

    Source link Treasury yields slide as investors digest Omicron data

    The post Treasury yields slide as investors digest Omicron data appeared first on Eminetra.

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