Morning Market Recap: Equities Open Higher; Fixed Income Selling Off

News Recap | Written by CEP News | Jul 25 08 14:07 GMT |

(CEP News) - North American fixed income markets are declining and equities are up with yields on U.S. 10-year Treasury notes up 6.9 bps to 4.07% and Canadian 10-year CGBs up 3.2 bps to 3.83%. Futures on the Dow Jones industrial average are up 64 points to 11,415. The Canadian dollar is down 0.0005 to 0.9850 USD and the euro is down 0.0004 to 1.5673 USD. U.S. two-year yields are up 6.4 bps to 2.67%, with five-year yields up 8.0 bps to 3.40%, 10-year yields up 6.9 bps to 4.07% and 30-year yields up 5.6 bps to 4.66%. Yields on two-year Canadian government bonds are flat at 3.14%, with five-year yields up 2.2 bps to 3.40%, 10-year yields up 3.2 bps to 3.83% and 30-year yields up 2.2 bps to 4.15%. The Canadian 10-year note is yielding 23.94 bps less than the U.S. 10-year note. In Germany, returns on two-year German bonds are flat at 4.43%, with five-year yields up 1.9 bps to 4.53%, 10-year yields up 2.1 bps to 4.59% and 30-year yields up 2.8 bps to 4.85%. Yields on UK two-year bonds are flat at 4.96%, with five-year yields flat at 4.94%, 10-year yields down 0.8 bps to 4.97% and 30-year yields flat at 4.61%. Toronto's S&P/TSX composite index is up 43 points to 13,249, the Dow Jones industrial average up 89 points to 11,438, the S&P 500 up 10 points to 1262 and the Nasdaq up 22 points to 2,303. European stock markets are lower, with the Eurostoxx down 1 point to 2,859, the UK FTSE 100 down 9 points to 5,354 and the German DAX down 3 points to 6,438. Toronto's S&P/TSX composite index closed up 43 points to 13,249, the Dow Jones industrial average up 89 points to 11,438, the S&P 500 up 10 points to 1262 and the Nasdaq up 22 points to 2,303. European stock markets closed in negative territory with the Eurostoxx down 1 point to 2,859, the UK FTSE 100 down 9 points to 5,354 and the German DAX down 3 points to 6,438. The Canadian dollar is down 0.0004 to 0.9850 against the U.S. dollar (1.0152 USD/CAD) and up 0.51 to 106.27 against the yen. The U.S. dollar is up 0.56 to 107.89 against the yen and the Dollar Index is down 0.098 to 72.835. The euro is down 0.0004 to 1.5673 against the U.S. dollar, up 0.0002 to 1.5912 against the Canadian dollar, down 0.0019 to 0.7873 against the pound sterling and is higher by 0.83 to 169.11 against the yen. The pound sterling is up 0.0041 to 1.9910 against the U.S. dollar and up 0.0048 to 2.0211 against the Canadian dollar. WTI crude oil is down $1.98 to $123.51. The front month gold contract at the Chicago Board of Trade is down $1.70 to $920.10 per ounce. All data taken at 10 a.m. EDT. Generated by CEP Newswires, edited by Cristina Markham, cmarkham@economicnews.caThis email address is being protected from spam bots, you need Javascript enabled to view it CEP Newswires - CEP News © 2008. All Rights Reserved. www.economicnews.ca The Copying, Broadcast, Republication or Redistribution of CEP News Content is Expressly Prohibited Without the Prior Written Consent of CEP News. A copy of CEP News disclaimer can be found at http://www.economicnews.ca/cepnews/wire/disclaimer.