Treasury 10-year note yields fell to within a quarter-percentage point of the record low reached two weeks ago as investors sought safety amid Europe’s debt crisis and signs U.S. economic growth is slowing.
U.S. government securities rallied as drops in industrial production and consumer prices boosted bets the Federal Reserve will add more stimulus to sustain economic growth. Volatility climbed to the highest since December as investors await the Greek election tomorrow amid speculation central banks will take steps to provide liquidity to financial markets.
“Europe is still a mess, there has been relatively disappointing U.S. data and there is increasing chatter about the possibility of the Fed doing some sort of further easing,” said Jay Mueller, who manages about $3 billion of bonds at Wells Fargo & Co. in Milwaukee. “There are a lot of wild cards and a lot of uncertainty domestically and abroad, and until something changes, Treasuries can stay near these levels.”
UAE economy gains momentum
The UAE’s non-oil producing private sector companies reported a further increase in output levels in April, according to the HSBC Purchasing Managers Index, or PMI.
“While new orders cont
SAMA’s net foreign assets surge to SR 2.506 trillion
The Kingdom’s M3 money supply growth accelerated to 14.1 percent year-on-year at the end of April, the fastest rate since October 2011, from 12.3 percent in the previous month, data from the Saudi Ar
NASDAQ Dubai Academy course to cover vital principles
NASDAQ Dubai Academy will provide a training course devoted to key corporate governance principles and best practices, as part of the exchange's drive to promote corporate excellence in the region. <
SABIC unveils 'Archi-Light Concept House'
SABIC unveiled the 'Archi-Light Concept House' at the official opening ceremony of Chinaplas 2013. Archi-Light is a themed exhibition within the larger show, which focuses on environmentally friendly
MAF Holding proposed subordinated perpetual notes assigned 'BB+'
Dubai-based retail property conglomerate Majid Al Futtaim Holding (MAF Holding) proposes to issue subordinated perpetual notes through MAF Global Securities, unconditionally and irrevocably guarantee