Hungary expects to receive 500,000 doses of the Chinese firm Sinopharm's coronavirus vaccine next week and plans to start administering it soon, becoming the first EU country to use it, Prime Minister Viktor Orban's chief of staff said on Thursday.
As a mini-tantrum raged on bond markets on Feb. 25, the U.S. Treasury auctioned $62 billion in seven-year notes. But investors, it would appear, forgot to show up. The lowest bid-cover ratio of 2.04 on record sent 10-year Treasury yields rocketing to a one-year high above.
Wall Street and a gauge of global equity markets rose on Friday as investors cheered signs of economic strength in a report that showed faster-than-expected U.S. jobs growth, data that initially stoked inflation concerns.
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FILE PHOTO: U.S. one hundred dollar notes are seen in this picture illustration taken in Seoul February 7, 2011. REUTERS/Lee Jae-Won
NEW YORK (Reuters) - A major exchange-traded fund tracking the U.S. investment-grade corporate bond market fell on Friday to its lowest since May 2020, after blowout employment data and comments from Federal Reserve Chair Jerome Powell on Thursday increased duration risk.
BlackRock’s iShares iBoxx Investment Grade Corporate Bond ETF fell to a 10-month low of $129.27 and was last trading down 0.33% to $129.51. Since the start of the year, LQD has lost more than 6%.
The improving economic data and increase in inflation expectations that have driven the U.S. benchmark 10-year Treasury yield to its highest in more than a year have also driven yields up - and prices down - on investment-grade debt. Investment-grade bonds tend to have longer durations than those in the junk-rated market. They are therefore more sensitive to inflation risks,
By Reuters Staff
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March 5 (Reuters) - A sharp recent rise in bond yields mostly reflects expectations for stronger economic growth ahead, Cleveland Federal Reserve Bank President Loretta Mester said on Friday, but “we are still very far from our goals” of full employment and price stability.
The U.S. recovery needs to become broader-based and sustainable, she told CNN International. “From my point of view on policy, I think that’s going to take sustained accommodation from the Fed for some time,” she said. (Reporting by Ann Saphir; Editing by Leslie Adler)