FRANKFURT, Aug 17 ― German bond yields fell alongside those of US Treasuries to their lowest in over a week today, ahead of a US retail sales report that is expected to add to data showing slowing economic momentum. Risk sentiment was also dampened by a further spike in Delta variant-related...
FRANKFURT, Aug 17 ― German bond yields fell alongside those of US Treasuries to their lowest in over a week today, ahead of a US retail sales report that is expected to add to data showing slowing economic momentum.
Bond market focus is on data out of the United States, with a Reuters poll expecting retail sales to have fallen 0.2 per cent month-on-month in July from a 0.6 per cent increase in June. Following an unexpected sharp fall in US consumer sentiment on Friday that sent bond yields tumbling, signs that consumer spending faltered by a larger degree, given a resurgent Delta variant, could prompt yet another market rethink of the US Federal Reserve's taper timeline.
“The focus is on US data, scoured for any hints of further economic deceleration and leaving the bias for lower rates intact for now,” ING analysts told clients.
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