Treasury 10-year notes fell for the fifth straight day, the longest stretch of losses since October, after the Institute for Supply Management’s non-manufacturing index rose more than forecast in May.
The euro fell against most of its major peers as investors sold peripheral government bonds amid speculation the region’s economy remains sluggish.
Whether or not the European Central Bank decides to add stimulus tomorrow, trading patterns show the euro is headed for a decline.
The stars are finally aligning for euro bears.
The premium for later deliveries of crude oil may collapse as the spread between the first two monthly futures contracts follows a “stair-step” pattern, according to a technical analysis by Barclays Capital.
The dollar may be forming a base against the yen, a move that could spur a longer-term uptrend, according to Bank of America Corp.
Commodities may fall 11 percent in the next few weeks to the lowest since May 2010, according to technical analysis by Bank of America Corp.
BofA’s Macneil Curry Says Gold Still in Bull Market
BofAML’s Curry Sees Continuation of Euro Weakness