LIFFE, and has usurped its dominance of Europe's benchmark bond contract, the German bund future.
Benchmark bond yields that peaked at 5.84% now stand at 4.11% as perceptions about a cooling global economy trickle down.
The government's 10-year benchmark bond is yielding around 5.15%, compared with the peak of 7.68% hit last July, according to Tradeweb data.
On average they think the yield on 10-year Treasury notes, a benchmark bond, will rise from 3.8% today to 4% to 4.5% by the end of the year.
Interestingly, the 10-year French spread to the Dutch ten-year benchmark bond has hit over 60bps according to Bloomberg, far wider than at any time in the history of the eurozone.
Also, the average yield of DAX stocks is 3.5%, almost three times the yield on the 10-year German government benchmark bond, a factor that could persuade yield-hungry investors deterred by low returns on government bonds to switch from debt to equity.
Its benchmark government bond trades at 57% of its face value, suggesting that private investors fear losses if and when a new deal is brokered.
Bill futures swooned by 11 basis points in response to the rapidly changing credit climate on Tuesday while benchmark government bond prices fell sending cash yields higher by three pips to 2.51%.
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Similar to low-cost index mutual funds, ETFs track segments of the market and try to match a benchmark stock or bond index rather than beat it.
They will miss the comfortable refuge from default risk, the wealth of noncallable issues, the exemption from state income tax and the dependable benchmark that corporate bond issuers use to price their securities.
As a callow bond-trader, fresh out of college, he participated in one of the greatest of them all, in Japan in 1986, when the yield on the ten-year benchmark Japanese government bond fell to 2.5%, the discount rate at the time.
In anticipation of big central-bank purchases of government bonds, traders sent benchmark Japanese government-bond futures up to a record Friday.
At European stocks markets close, the yield on the government's benchmark 10-year bond was down 0. 16 percentage point at 5.86%, according to Tradeweb.
Mr. Gross's fund returned 4.16% for the year, its worst performance since 2006 and far behind the benchmark Barclays Capital Aggregate Bond Index's 7.84% gain, according to Morningstar.
The yield of the benchmark long-term bond hovers around 1.2%.
Government bond prices also fell, with the yield on the benchmark 8.15% 2022 bond rising to 7.80% from 7.74% earlier, but later paring some losses to trade at 7.77%.
After breaking their euro-era highs last week, Portuguese benchmark 10-year bond yields surged to 8.18% by 1:39 PM in New York, taking their spread with German bunds to 487 basis points.
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Government bond prices fell initially--with the yield on the benchmark 8.15% 2022 bond rising to 7.80% in a knee-jerk reaction from 7.74% earlier, before recovering to end at 7.74%.
It is likely to offer a benchmark-sized Regulation S bond, the person said.
The yield on the benchmark 8.15% bond due in 2022 rose to 7.45%, a two-week high, following the governor's comments.
The major indexes and the dollar fell, while the benchmark 10-year Treasury bond yield dropped to 3.98% from late-Wednesday's 4.05%.
The yield on the benchmark seven-year government bond has barely budged in the past month, trading between 3.42% and 3.47%, while the usually volatile equity markets have been calmer than usual.
While bond yields on benchmark 10-year Treasuries dropped 4 basis points to 3.70% as the show go on the road on Capitol Hill, Bernanke responded that all of the quantitative easing programs, including QE1, reinvestments, and QE2, had created approximately 3 million jobs.
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Short term bond yields increased slightly to 3.64% for the benchmark 10-year Treasury, while the 30-year bond yields fell to 4.68%.
The benchmark 8.15% 2022 bond ended at 104.40 rupees, compared with 103.70 rupees before the announcement of the data.
The benchmark 8.15% 2022 bond climbed to an intraday high of 101.88 rupees from 101.64 rupees before the data.
The yield on the benchmark 10-year Japanese government bond climbed to 1.0% in morning trade, the highest since April 2012.
In a sign of further volatility, the benchmark 10-year Japanese government bond yield hit 1.0%, the highest in nearly a year.
Italian and Spanish bond prices slumped forcing benchmark yields up at a double-digit pace as speculators traded them in for the safer bet of German bunds.
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