
Bonds rose send income among the lowest in a month after the Federal Reserve hosted their first press conference post meeting. Some remain concerned that investors to close the Fed his second wave of purchases amounting to $600 billion of bonds on the open market, will demand higher yields. Running such a theory still but upside down in a downturn in the recovery process data. The first quarterly GDP reading for 2011 expectations fell easily to one day the Fed compared its growth forecast while increasing its projection for inflation.
Eurodollar of futures- Fed Chairman Bernanke said from his home turf in Washington, remained in control of the press conference Wednesday and said that the recovery shortly for the fed to start taking removed remained his monetary medicine enough steam. The message although widely discounted still ammunition bond buyers provide after the event. Thursday's 1.8% annualized quarterly growth rate for the three months end of March was lower than the consensus forecast, 2%, and marked a significant slowdown in economic activity from the last quarter surge to 3.1% pace. Weekly jobless claims data that was also alarmingly weak claims increases from 26,000 to 429,000 by last weekend keep the series on the alleged 400,000 watershed separation jobs growth of weakness. Eurodollar of futures made profits of 10 basis points on deferred terms, although the 2012 was strips of about six basis points higher. June 10-year note future trade with 120-28 added profitable 3.32% a half a percentage point.
European bond markets- Euro-zone bond prices held firm taking a cue from North American markets. Income in core Europe fell as a splitter of the good news in the form of a dependence on Greek banks on emergency ECB financing in February. Investors have the bit once firmly in their teeth for a restructuring of the Greek government debt so to push you hot taken 10-year bond yields. Germany's rate of unemployment remained at 7.1% decline in the number of unemployed in March after a 37,000. Euribor futures rose send implied yields of three basis points lower. June German Federal bonds added 122.49 reducing of the yield of five basis points one to 3.27% half a point.
British gilts - Buyer made a mockery of the yesterday's sellers of short Sterling futures, as losses on the contract in terms of the weakest consumer confidence reading reversed since March 2009. The GfK report showed more consumer weakness ahead with more respondents said, take now not a good time on a major purchase was. Sterling 3-month Strip was of 10 basis points during the return in June, that applies from seven points less than 3,50% close was higher.
Canadian bills- Weakness of the US economy created a positive feeling for the front end of the Canadian yield curve where prices of the 90-day bills rose by four basis points as implied revenues rejected. June Government bond yield compared to the strengthening of comparable Treasury notes sending the country's cost of borrowing four basis points lower 3.22% while narrows the gap between the two recently to 10 basis points has seen.
Japanese bonds bond-futures for June rose to a record slump in industrial production across the nation after the earthquake of March. The contract rose 14 ticks on 140.08 keep the 10-year yield down to the lowest level in a month at 1.20%. The bond environment remained on Thursday in terms of the memory of the impact of last month's devastation and despite a recovery 1.6% for stocks friendly.
Australian bills -Bill prices were largely unchanged overnight. The Aussie dollar rallied to its strongest ever to read against the greenback as risk aversion gathered pace. The strengthening Aussie unit weighs possible on inflationary pressures, which help, explain why not 90 days prices move Bill to resume of the strengthening of the Central Bank discount. Government bond yields fell by three basis points to 5.45%.
Andrew Wilkinson
Senior market analyst
ibanalyst@interactivebrokers.com

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