Long-dated Treasury yields rose Thursday, after failing to push key chart levels, as traders shrugged off geopolitical concerns.
The 10-year Treasury note yield TMUBMUSD10Y, +0.27% rose 1.6 basis points to 2.628%, while the 2-year note yield TMUBMUSD02Y, +0.16% was up 0.8 basis point to 2.461%. The 30-year bond yield TMUBMUSD30Y, +0.95% rose 3.4 basis points to 3.045%, after investors proved unable to drag it below 3%. Bond prices move inversely to yields.
The 10-year U.K. government bond yield TMBMKGB-10Y, +2.22% added 2.6 basis points to 1.230%, Tradeweb data show.
“We weren’t able to hold 3% level on the 30-year bond, so we traded softer off that. With nothing else to hang your hat on, I’d say technical levels drove most of the trading,” said Larry Milstein, managing director of government and agencies trading at R.W. Pressprich & Co.
Bloomberg News reported on Thursday that a meeting between President Donald Trump and President Xi Jinping to sign an agreement ending trade tensions between U.S. and China was more likely to take place in April, at the earliest, instead of this month. Trump said on Wednesday that he was in “no rush” to pass a deal.
See: Trump says he might walk away from China trade talks
British lawmakers voted on Thursday to extend Article 50, the legal mechanism by which the U.K. triggered its departure from the European Union, after rejecting a no-deal arrangement and U.K. Prime Minister Theresa May’s deal. The EU, however, has said it would not grant an extension unless the U.K. offered clarity on the reasons for delaying their exit.
Read: 15 days until Brexit: Here’s what happens next
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