Wednesday April 23, 2008 - 14:46:25 GMT
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CEP News - www.economicnews.ca
Morning Market Update: U.S. Dollar Strengthens and Treasuries Steepen
09:54 04/23 (CEP News) - North American fixed income markets and
equities are mixed with yields on U.S. 10-year Treasury notes up 1.7
bps to 3.71% and Canadian 10-year CGBs down 1.0 bps to 3.64%. The Dow
Jones Industrial Average is trading down 0.65 points to 12719.58 and
the S&P TSX Composite Index is down 48.56 points to 14217.78. The
Canadian dollar is down 1.10 cents to 0.9811 USD and the euro is down
1.00 cents to 1.58895 USD.
Yields on two-year Canadian
government bonds were down 5.7 bps to 2.76%, five-year yields down 3.3
bps to 3.10%, 10-year yields down 1.0 bps to 3.64% and 30-year yields
flat at 4.13%.
U.S. two-year yields were down 0.8 bps to 2.18%, five-year yields were
down 0.7 bps to 2.93%, 10-year yields were up 1.7 bps to 3.71% and
30-year yields were up 3.6 bps to 4.48%. The Eurodollar June 08
contract was up 3.5 ticks to 97.16. The 10/2 year spread widened 2.29
bps to 152.60.
In Germany, returns on two-year German Bunds were down 5.3 bps to
3.85%, five-year yields down 3.9 bps to 3.91%, 10-year yields down 1.1
bps to 4.14% and 30-year yields flat at 4.65%.
Yields on UK two-year bonds were up 1.2 bps to 4.46%, five-year yields
were down 0.6 bps to 4.45%, 10-year yields were down 1.9 bps to 4.67%
and 30-year yields were down 1.6 bps to 4.53%.
Toronto's S&P TSX composite index was down 48.56 points to
14217.78, the Dow Jones Industrial Average down 0.65 points to
12719.58, the S&P 500 up 0.39 points to 1376.33 and the NASDAQ up
8.46 points to 2385.40.
European stock markets are declining, with the Eurostoxx down 24.92
points to 3123.69, the UK FTSE 100 down 31.70 points to 6003.00 and the
German DAX down 33.23 points to 6695.07.
The Canadian dollar was down 1.10 cents to 0.9811 against the USD
(1.01919 USD/CAD) and down 0.30 cents to 1.6195 against the euro.
The U.S. dollar was up 0.18 to 103.21 against the yen and the euro down
1.00 cents, to 1.58895 against the U.S. dollar. The pound sterling was
down 1.60 cents to 1.9794 USD and the Australian dollar was higher by
0.20 cents to 0.9467 USD. The U.S. Dollar Index was up 0.425 points to
Futures on WTI crude oil are down $0.85 to $117.22 while gold futures at the Chicago Board of Trade are down $21.70 to $903.50.
All data taken at 9:49 a.m. EDT.
By Adam Button, [email protected], edited by Nancy Girgis, [email protected]
(END) ¬©CEP Newswires - ¬©CEP News Ltd. 2008. All Rights Reserved. www.economicnews.ca
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