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BARC Barclays Plc

183.20
1.68 (0.93%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Barclays Plc LSE:BARC London Ordinary Share GB0031348658 ORD 25P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  1.68 0.93% 183.20 183.48 183.52 185.68 182.82 183.32 54,857,915 16:35:20
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Commercial Banks, Nec 25.38B 5.26B 0.3470 5.29 27.81B

U.S. Government Bonds Slightly Lower

22/12/2014 10:37pm

Dow Jones News


Barclays (LSE:BARC)
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From Mar 2019 to Mar 2024

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By Min Zeng 

The U.S. Treasury bond market started the holiday-shortened week slightly lower ahead of the government's final round of bond auctions for the year.

In recent trading, the yield on the benchmark 10-year note was 2.179%, compared with 2.178% Friday, according to Tradeweb. Bond yields move inversely to their prices.

A $27 billion sale of two-year Treasury notes is due at 1 p.m. EST Monday, the first leg of this week's $104 billion new Treasury debt offerings maturing from two years to seven years.

Traders expect trading volume in the bond market to decline during the last two weeks of December, known as the winter holiday trading period. Many investors are taking time off and the lower liquidity may exaggerate bond price swings, said traders.

The Treasury bond market is on pace to wrap up a strong year. The 10-year note's price has surged this year, sending the yield down from 3% at the start of January.

Treasury bonds overall have handed investors a total return--including price changes and interest payments--of 4.91% this year through Friday, the biggest calendar-year return since 2011, according to data from Barclays PLC.

Treasury bonds suffered a 2.75% loss in 2013 as worried over the prospect of reduced bond buying from the Federal Reserve sent investors piling out of the market.

Leading into 2014, many investors and market analysts had expected the bond market to extend last year's selloff. They believe a strengthening U.S. economy and reduced stimulus from the central bank would continue to sap demand for ultrasafe Treasury debt.

But the bond market has proved them wrong.

Demand for U.S. government securities has climbed due to weaker growth overseas, tumbling oil prices and market stress in some emerging-market countries.

In addition, the U.S. government bond market has offered more attractive yields compared with government bonds in Germany, Japan, the U.K., France and Canada. A rising dollar driven by the prospect of higher interest rates from the Fed has enabled foreign buyers to pick up extra returns.

"Foreign investors have and will continue to find Treasurys attractive for their safety, liquidity, and strength of currency," said Kevin Giddis, head of fixed income at Raymond James in Memphis, Tenn.

On Monday, the yield on the 10-year German government bond was 0.599% and the yield on the 10-year Japanese government bond was 0.335%.

Write to Min Zeng at min.zeng@wsj.com

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