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Pre-Market Report: Global Markets Are Stable on September 29

PART:
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Part 3
Pre-Market Report: Global Markets Are Stable on September 29 PART 3 OF 4

US Dollar Index and US Treasury Yields Are Stable

US Dollar Index

The US Dollar Index started this week on a stronger note and rose in the first three trading days of the week. However, the US Dollar Index pulled back on Thursday. It’s stable in the early hours on Friday.

US Dollar Index and US Treasury Yields Are Stable

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Market performance

The sentiment at the beginning of this week was strong amid higher expectations of one more interest rate hike this year. The US Dollar Index strengthened after President Trump announced his tax reform proposal. The proposal increased the risk appetite in the market. The US Dollar Index pulled back on September 28 amid profit-booking and quarterly position squaring. Despite pulling back, the US Dollar Index is on track to close this week with the highest weekly profits in 2017.

At 6:30 AM EST on September 29, the US Dollar Index was trading at 93.14—a rise of 0.06%.

US Treasury yields

The market’s risk appetite rose at the beginning of this week amid interest rate hike expectations and the tax reform plan proposal. These factors weighed on US bonds and pushed the yields higher. Treasury yields move opposite to the movements in bonds. In the early hours on Friday, the Treasury yields are stable.

Movement in Treasury yields

The movement in Treasury yields at 6:35 AM EST on September 29 was:

  • The ten-year Treasury yield was trading at 2.310—a gain of ~0.15%.
  • The 30-year Treasury yield was trading at 2.870—a gain of ~0.08%.
  • The five-year Treasury yield was trading at 1.896—a gain of ~0.07%.
  • The two-year Treasury yield was trading at 1.459—a gain of ~0.26%.

The iShares 20+ Year Treasury Bond ETF (TLT) fell 0.3%. The ProShares UltraPro Short 20+ Year Treasury ETF (TTT) rose 0.91% and the ProShares UltraShort 20+ Year Treasury ETF (TBT) rose 0.65% on September 28.

In the next part, we’ll discuss how commodities performed in the early hours on September 29.

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