Attention May Turn to the Yield on 30-Year U.S. Treasuries
13.05.2021
- U.S. 30-Year Treasury Auction
- A Strong U.S. Dollar
Yesterday, U.S. stock prices fell sharply, with the S&P 500 closing at 4,063 points, down 2.14% from the previous day.Investors were rattled by the rise in the U.S. 10-year Treasury yield, which briefly climbed to 1.69%, approaching the 1.7% mark. Additionally, the U.S. Consumer Price Index (CPI) for April, released yesterday, rose 4.2%—the highest increase since September 2008—with gasoline prices showing a particularly sharp rise.
In the foreign exchange market, the GBP/JPY pair, which has been trending higher, rose further during yesterday’s U.S. trading session, touching 154.4. There has been no pullback during today’s Asian trading session, and the pair is trading around 154.2. The GBP/USD pair is falling under pressure from the strength of the U.S. dollar and is currently trading around 1.406.
No particularly notable economic indicators are scheduled for release today during European trading hours. Once U.S. trading hours begin, the schedule includes remarks by Bank of England Deputy Governor Kanrif at 21:00, U.S. initial jobless claims and the U.S. Producer Price Index at 21:30, and remarks by U.S. Federal Reserve’s Barkin at 23:00:remarks by Richmond Fed President Rich, at 23:30: U.S. weekly natural gas inventories, at 24:00: remarks by BOC Governor McClem, at 25:00: remarks by UKRemarks by BOE Governor Bailey; at 26:00, a U.S. 30-year Treasury auction and remarks by Fed Governor Waller; and at 29:00, remarks by U.S. St. Louis Fed President Bullard are scheduled. While keeping an eye on today’s economic data releases during U.S. trading hours, I intend to continue monitoring price movements closely.
