US Dollar and Treasury Yields Are Weak on September 13


Sep. 13 2017, Updated 8:57 a.m. ET

US Dollar Index

After falling to multiyear low levels last week, the US Dollar Index rebounded this week. Amid the improved market sentiment, the US Dollar Index traded with strength in the first two trading days this week. In the early hours on Wednesday, the US Dollar Index is trading with weakness below the opening prices.

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Market sentiment

The market sentiment has improved this week. Geopolitical concerns calmed down, which increased the market’s risk appetite. The US Dollar Index recovered from 33-month lows that it reached last week. The US Dollar Index lost strength today as the market shifted its focus from Hurricane Irma to US economic data. The economic data might provide clues about the timing of the next interest rate hike. The market is looking forward to the release of US producer price index data at 8:30 AM EST today.

At 7:00 AM EST today, the US Dollar Index is trading at 91.84—a fall of 0.04%.

US Treasury yields

So far, US Treasury yields have risen this week and broke a three-week losing streak. The market’s improved risk appetite and supporting US economic data weighed on bonds and supported the yields. Treasury yields move opposite to bond movements. In the early hours on Wednesday, the Treasury yields are weak as they await US economic data. The market is also looking forward to the release of the US federal budget balance data at 2:00 PM EST today.

Movement in Treasury yields 

The movement in Treasury yields at 7:05 AM EST on September 13 was:

  • The ten-year Treasury yield was trading at 2.160—a fall of ~0.5%.
  • The 30-year Treasury yield was trading at 2.762—a fall of ~0.46%.
  • The five-year Treasury yield was trading at 1.739—a fall of ~0.47%.
  • The two-year Treasury yield was trading at 1.335—unchanged.

The iShares 20+ Year Treasury Bond ETF (TLT) fell 0.53%. The ProShares UltraPro Short 20+ Year Treasury ETF (TTT) and the ProShares UltraShort 20+ Year Treasury ETF (TBT) rose 1.5% and 1.1%, respectively, on September 12.

In the next part, we’ll discuss how commodities are performing in the early hours on September 13.


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