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Bonds round-up: Quiet day for bonds
Mon, 06 Sep, 2010
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Bonds round-up: Quiet day for bonds
Fri, 3 Jul 2009, 17:04:00
With the US closed today to celebrate Independence Day it has been a quiet end to the week for government bonds. In Europe, bond prices ease back a little today but closed the week higher than they started it for the third time in a row as doubts grow about the revival in the global economy, especially following the dismal US unemployment figures yesterday. Prices fell despite worse than expected retail sales figutes for the eurozone in May. The retail sales index fell 0.4% in May, versus expectations of a 0.1% decline, after rising 0.1% in April. The yield on the 10-year benchmark bund rose 1 tick to 3.34%. In the UK gilts were little changed ahead of next week's interest rate decision by the Monetary Policy Committee of the Bank of England. On Thursday, and the sale of £4bn of 3.75% bonds on Monday. Appetite for government debt was dampened by data from the UK's service sector, which grew for the second month in a row in June, although the rate of expansion slowed as new business contracted and unemployment accelerated. The purchasing managers' index slipped to 51.6 last month from 51.7 in May, but economists had expected an increase to 52. A read of over 50 indicates growth. The benchmark 10-year gilt's yield was unchanged at 3.74%.
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