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Pre-Market Report: Global Markets Are Strong on December 7

PART:
1 2 3 4 5
Part 4
Pre-Market Report: Global Markets Are Strong on December 7 PART 4 OF 5

US Dollar Index and Treasury Yields Are Strong

US Dollar Index

The US Dollar Index regained strength last week and started this week on a stronger note amid the improved market sentiment. The US Dollar Index gained in the first three trading days this week and started Thursday on a stronger note. In the early hours on December 7, the US Dollar Index is trading with strength above the opening prices.

US Dollar Index and Treasury Yields Are Strong

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Market sentiment

The US Dollar Index started this week on a stronger note amid improved confidence about the economy and progress in tax reform plans. On Wednesday, the release of stronger-than-expected non-farm employment data along with increased optimism about tax reform plans pushed the US Dollar Index to two-week high price levels. According to ADP (Automatic Data Processing), US ADP non-farm employment rose by 190,000 in November, which is higher than the expected increase of 185,000.

At 6:05 AM EST today, the US Dollar Index is trading at 93.69—a gain of 0.09%.

US Treasury yields

US Treasury yields started this week on a mixed note and fell as the week progressed. Despite strong economic sentiment, US Treasury yields traded with weakness on Wednesday amid geopolitical risks from tensions in Israel. In the early hours on Thursday, US Treasury yields are strong.

Below are the movements in Treasury yields as of 6:10 AM EST on December 7.

  • The ten-year Treasury yield was trading at 2.346—a gain of ~0.67%.
  • The 30-year Treasury yield was trading at 2.762—a gain of ~0.39%.
  • The five-year Treasury yield was trading at 2.135—a gain of ~0.78%.
  • The two-year Treasury yield was trading at 1.815—a gain of ~0.47%.

The iShares 20+ Year Treasury Bond (TLT) rose 0.35%. The ProShares UltraPro Short 20+ Year Treasury (TTT) fell 0.99% and the ProShares UltraShort 20+ Year Treasury (TBT) fell 0.71% on December 6.

In the next part of this series, we’ll discuss how commodities performed in the early hours on December 7.

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