2-Yr Yield Hits Highest Level Since December 2000
In Tuesday’s economic
news, Housing Starts rose 5% in May, exceeding expectations
Bond prices declined for the fifth consecutive day. The yield on the 2-yr
Treasury hit the highest level since December 2000.
The US Dollar Index closed lower. The Dollar declined against all the majors
except for the AUD.
Gold recovered most of yesterday’s losses, along with Silver. Copper opened weak
but recovered to close near session highs.
Energy prices were mixed; Crude Oil closed flat, Unleaded Gas and Heating Oil
rose, while Natural Gas fell.
All the softs closed higher, although Sugar +2.42% was the only notable mover.
The grains were generally higher, with Wheat +2.37% leading the advance.
All the meats declined.
Housing Starts Up 5% In May To Rate Of 1.957 Mln. Units (report)
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