AAP Economics: Overnight debt/forex report

AAP General News (Australia)
02-28-2001
AAP Economics: Overnight debt/forex report

by Garry Shilson-Josling

AAP Financial Markets Economist

Tel: 61 2 9322 8737 Fax: 61 2 9322 8600

The US Treasury market gained for the third day straight on Tuesday, and the usual
suspects were once again responsible.

Lower share prices, weak economic data (summary tables below), and growing confidence
that the Federal Reserve might cut the fed funds rate for the third time this year before
its next policy meeting on March 20 all combined to push yields down.

In late trade the biggest gainer was the 30-year bond, which was …