US Treasury Holds Bond Auction

Last Thursday, the US Treasury Department’s 30-year bond auction drew solid demand. The US$13 billion bonds were sold at a yield of 3.07%, and attracted US$2.77 in bids for every dollar being sold.

This is higher compared to the US$2.59 average over the past eight 30-year auctions.

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European equities slid from two-year highs in spite of positive sentiments from the ECB. Traders surmised that chatter of a significant move in the derivatives market prompted a late-session sell-off. The FTSEurofirst300 index slipped 3.33 points to 1,164.65.

The euro slipped slightly against the US dollar amid weak industrial production data from Germany. The shared currency lost 0.03 cents to close at US$1.3064.

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