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Spanish bond yields rise while the US treasury yields await Industrial production data

FXStreet (Mumbai) - The Ten-year bond yields in Spain have increased today for the second consecutive session after the yields repeatedly failed to sustain below 2.03%. Meanwhile, the US ten-year treasury yields continue to trade in the range of 2% to 2.8% as the investors wait for the release of the Industrial production data.

Spanish benchmark yields hit a high of 2.41% earlier today after the Spanish auction failed to cover. However the rise was stemmed by a steep fall in the European equity bourses. The benchmark yields in Spain now hover around 2.269%. Moreover, Spanish yields have started diverging from their US counterparts.

In the US, the markets are awaiting the release of Industrial Production data, which is expected to print 0.4% in September, up from -0.1% in August. The yields have not responded to the last week’s initial jobless claims, which fell to a 14-year low. As per RBS treasury morning note, “Bond markets are not information starved when it comes to domestic data. A fresh trigger will come next week when the US CPI will be released.”

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