Government debt prices rallied sharply on Friday while Wall Street stocks dropped after disappointing business surveys on both sides of the Atlantic intensified investor fears about the global economic outlook. The yield on the benchmark 10-year Treasury note fell 0.14 percentage points to 2.77 per cent after a closely watched survey signalled a contraction in business activity in July. “The Fed has made it very clear that price stability is their number one goal and they almost have to target recession in order to bring down inflation,” said Seema Shah, chief strategist at Principal Global Investors. Read More...
Government debt prices rallied sharply on Friday while Wall Street stocks dropped after disappointing business surveys on both sides of the Atlantic intensified investor fears about the global economic outlook. The yield on the benchmark 10-year Treasury note fell 0.14 percentage points to 2.77 per cent after a closely watched survey signalled a contraction in business activity in July. “The Fed has made it very clear that price stability is their number one goal and they almost have to target recession in order to bring down inflation,” said Seema Shah, chief strategist at Principal Global Investors.
