Bonds: US Treasuries little changed amid dearth of data
Ten-year US Treasuries ended the session little changed, with their yield rising by just one basis point to 1.92%.
That came just two days ahead of the next meeting of the Federal Open Market Committee, the US central bank’s rate-setting organ, and on the heels of Athens’ decision to in effect sideline its bellicose finance minister.
Also in European news, Berlin sold €1.45bn in 12-month bills, with the bid-to-cover dropping to 2 from 2.6 the last time around.
Germany’s import price index increased at a 1% month-on-month pace in April after a rise of 1.4% in the month before (consensus: 0.4%).
Norges Bank’s Olsen was reported as saying low rates overseas have prevented a rate increase thus far.