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Bond Market Update

  • The Market at 15:27 ET

    10-Year: -8/32…1.89…EUR/USD: 1.0735USD/JPY: 119.30

    Treasury Market Stands Its Ground

    • - People's Bank of China cuts required reserve ratio a full percentage point to 18.5%
    • - NY Fed President Dudley (FOMC voter) speaks: Growth rebound should support rate rises later this year; will be looking to see if weakness in March labor report is temporary; optimistic about economy in 2015 but sees significant downside risk; staff says rise in dollar may reduce growth by 0.6% in 2015; emerging markets are "better positioned than in the past" to manage Fed tightening and a stronger dollar
    • - Greek government decrees that local governments have to keep their cash with the central banks