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90 seconds at 9 am: US Treasury bond yields sharply higher as US growth signs emerge; Oil up 2%; Gold down as QE III fears recede
US Treasury bond yields sharply higher as US growth signs emerge; Oil up 2%; Gold down as QE III fears recede
Here's my summary of the key news over the weekend in 90 seconds at 9 am, including news the oil price has risen 2% to US$125/bbl for brent as expectations grow of stronger demand from the global economy.
US Treasury yields have also risen sharply over the last week on hopes the US economy may have begun a self-sustaining recovery, which would push up future interest rates and reduce the need for further quantitative easing or money printing to buy bonds.
The US 10 year Treasury bond yield rose by as much as 30 basis points, their biggest rise in 8 months.
Also, the gold price fell sharply as investors looked at the US Federal Reserve's comments about not needing a third round of quantitative easing.
Investors will also be watching New Zealand GDP figures due on Thursday.
They are expected to show growth of 0.6% in the December quarter, due partlyy to the Rugby World Cup and strong production growth in dairying.