Política

Hard Rock Punta Cana hard rock punta cana hair dryer//
TREASURIES-Long-dated yields fall, retail sales data in focus

Hard Rock Punta Cana
TREASURIES-Long-dated yields fall, retail sales data in focus

(Adds yield context, European bond moves, updates prices) * Retail sales data on Tuesday next economic focus * Yield curve has steepened on stronger U.S. data By Karen Brettell NEW YORK, July 15 (Reuters) – Longer-dated U.S. Treasury yields edged lower on Monday as investors focused on Tuesday’s retail sales figures as the next indicator of the strength of the U.S. economy. The U.S. yield curve has steepened in the past week, led by higher longer-dated yields, as the U.S. economic picture improves. Data earlier this month showed that U.S. job growth rebounded strongly in June while underlying consumer prices also gained by the most in nearly 1-1/2 years in the month. “The question is whether we are going to get more of the same,” said Subadra Rajappa, head of U.S. rates strategy at Societe Generale in New York. Data on Tuesday is expected to show that retail sales gained 0.1% in June, according to the median estimate of economists polled by Reuters. Benchmark 10-year notes gained 3/32 in price to yield 2.10%, after testing the 2.15% level in overnight trading for the third consecutive trading session, the highest level since June 11. The yield curve between two-year and 10-year notes flattened by one basis point to 26 basis points on Monday, but is up from 15 basis points last Tuesday. The Federal Reserve is expected to cut rates when it meets later this month, even as the U.S. economic picture improves. “They are concerned more about the slowdown in global growth” and inflation expectations, said Rajappa. Records from the U.S. central bank’s latest meeting, released last week, showed increasing fear that a U.S.-China trade war that has done little to directly restrain growth is indirectly causing businesses to hold back on buying equipment, giving workers a raise and hiking their prices. A rate cut this month is seen as certain with interest rate futures traders pricing in a 72% chance of a 25 basis point cut and a 28% likelihood of a 50 basis point cut, according to the CME Group’s FedWatch tool. U.S. bond yields are also being held down as European government debt trades in negative territory. The benchmark German bund yield fell to minus -0.30% on Monday, though it remains 12 bps off record lows hit earlier this month. (Reporting by Karen Brettell; Editing by Andrea Ricci and Chizu Nomiyama) )