Long-dated U.S. Treasurys yields fell on Monday as oil prices dropped to five-year lows, denting inflation expectations and raising the appeal of long-maturity bonds over shorter-dated issues. An early rebound in oil prices faded after OPEC exporters said they would not cut production despite worries about a supply glut.
That renewed selling in stocks and buying in longer-dated Treasurys, analysts said. “We are again seeing a pullback in energy prices. That’s weighed on stocks and put a bid back in Treasurys,” said Ian Lyngen, senior government bond strategist at CRT Capital Group in Stamford, Connecticut.
Concerns about weakening growth and inflation overseas, despite signs of a resilient U.S. economy, have also underpinned the appetite for longer-dated Treasurys, whose yields fell to two-month lows earlier on Monday.
CNBC
0 коментарі:
Post a Comment