empty

2025.04.0219:19:00UTC+00Treasuries Give Back Ground Following Yesterday's Surge

Treasuries extended yesterday's rally early in the session on Wednesday but gave back ground over the course of the trading day.

Bond prices pulled back well off their early highs and into negative territory. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, rose 4.0 basis points to 4.196 percent after hitting a low of 4.110 percent.

The pullback by treasuries may have reflected profit taking following recent strength in the bond market, with the ten-year yield bouncing off its lowest closing level in almost four months.

A report from payroll processor ADP showing stronger than expected private sector job growth in the month of March may also have reduced the safe haven appeal of bonds.

ADP said private sector employment jumped by 155,000 jobs in March after climbing by an upwardly revised 84,000 jobs in February.

Economists had expected private sector employment to grow by 105,000 jobs compared to the addition of 77,000 jobs originally reported for the previous month.

The Commerce Department also released a separate report showing factory orders increased by slightly more than anticipated in the month of February.

Meanwhile, traders were also looking ahead to President Donald Trump's announcement of reciprocal tariffs on U.S. trade partners.

Trump is scheduled to announce the new tariffs in a Rose Garden event later this afternoon, with White House press secretary Karoline Leavitt indicating the new levies will be "effective immediately."

Reports suggested Trump's team were still finalizing the details of the plan in the hours leading up to the announcement, although a White House official told CNBC's Megan Cassella the president has now made a final decision on how he wants to proceed.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST


Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.