[ad_1]
Yields on US government bonds fell today. As investors watched the release of US economic figures.
At 11:30 pm ET, the yield on 10-year US government debt fell to 0.62%, while the yield on 30-year government debt fell to 1.335%.
Bond prices and bond yields move in opposite directions.
The US Department of Labor released the first 881,000 applicants for unemployment benefits last week. That’s better than what analysts had forecast of 950,000 after 1.011 million were reported earlier this week.
Meanwhile, the number of Americans still seeking unemployment benefits fell to 13.254 million after hitting a record 24.912 million in early May.
Said the US Department of Commerce. The United States trade deficit increased more than expected in July. It rose 18.9% to $ 6.36 billion. Which is the highest level since July 2008 And more than analysts had predicted at $ 50 billion.
The Commerce Department also revealed that Imports rose 10.9 percent to $ 2.317 billion in July. What is the highest level on record? While exports rose 8.1% to 1681 billion dollars.
The US Institute of Supply Management (ISM) survey found that the US service sector index fell to 56.9 in August from 58.1 in July and below the estimate of the analysts at the level. 57.0
The US services sector index was pressured by falling new orders. Although employment rebounded
The index remains above 50, indicating an expansion in the service sector.
The ISM Service Sector Index consists of 17 industries, including real estate, transportation, construction, and mining.
However, the ISM service sector index contrasts with data from IHS Marquit, which indicates the US Purchasing Managers Index (PMI). It recovered to 55.0 in August, the highest level since March last year from 50.0 in July.
The PMI index was above 50 in August, indicating that the US service sector is expanding. Driven by jobs Rising to highest level since June 2014 While new orders reached their highest level in more than a year, confidence in the sector reached the second highest level since April last year.
The PMI index previously slumped to 26.7 in April, a record low. Affected by the spread of the COVID-19 virus.
Investors are keeping an eye on the number of nonfarm payrolls this week. While analysts predicted that tomorrow the US Department of Labor will report a 1,255 million increase in non-farm payrolls in August.
Last month the United States Department of Labor reported. Nonfarm payrolls increased by 1.763 million in July. It was higher than what analysts had forecast of 1.48 million, but below the 4.791 million position in June. Which is a record? The unemployment rate fell to 10.2 percent, well below the 11.1 percent in June and below analysts’ estimate of 10.6 percent.
