BLBG:Treasuries Yields Show Inflation Expectations Falling
Treasuries fell, headed for the first loss in a week, as U.S. equity-index futures gained after Cisco (CSCO) Systems Inc. reported quarterly profit that exceeded analysts’ estimates.
U.S. 10-year yields increased two basis points, or 0.02 percentage point, to 1.61 percent as of 6:46 a.m. in London, Bloomberg Bond Trader data show. The 1.625 percent security due in November 2022 declined 5/32, or $1.56 per $1,000 face amount, to 100 1/8. The record-low yield was 1.38 percent set July 25.
Standard & Poor’s 500 Index futures advanced 0.4 percent, set for the biggest gain since Nov. 6.
Cisco, the biggest maker of computer networking equipment, said profit excluding some costs was 48 cents a share in the first fiscal quarter, which ended Oct. 27, in a statement yesterday. That compares with analysts’ average estimate for 46 cents a share, according to data compiled by Bloomberg.
To contact the reporter on this story: Wes Goodman in Singapore at wgoodman@bloomberg.net
To contact the editor responsible for this story: Rocky Swift at rswift5@bloomberg.net