Treasuries pare gains on Trump's comments

Markets 4/21/2017, 8:24 PM
Treasuries pare gains on Trump's comments

United States government bonds pared back some of the gains seen earlier in the session on Friday after President Donald Trump pledged to unveil a plan for "massive" tax cuts for businesses and individuals alike by next week.

The president said in an interview with the Associated Press that the entire tax plan will be released on April 26 or "shortly thereafter," adding that his reform will be "bigger, I believe, than any tax cut ever."

The yield on 10-year Treasuries declined 0.53 basis points on the day to 2.2267% at 8:16 pm CET, while the yield on two-year bonds edged down 0.84 basis points to 1.1762%. The yield on 30-year debt was flat at 2.8822% at the same time.

In Europe, the yield on 10-year German Bunds increased 0.9 basis points to 0.253%, whereas the yield on British gilts of the same maturity fell 3.5 basis points to 1.034%.

TeleTrader Newsroom / IB