August 1 (Bloomberg) - rally in Treasury bonds sent 10 years yields to the lowest level since November and the dollar rose after an indicator of manufacturing weakened to a two-year low. U.S. stocks wall losses as the optimism of the legislators expressed Congress will pass a plan to increase the debt ceiling.
Ten-year Treasury yields dropped five basis point to 2.75% at 4 p.m. in New York. The dollar index rose 0.5 per cent as the euro fell 1 percent to $1.4261 and Italian bonds and Spanish invest profits amid concern for deterioration of the global economy will exacerbate the European debt crisis. The standard & Poor 500 Index, which he won to 1.2 percent during the session and fell 1.4%, ended up by 0.4 per cent in 1,286.94 for a sixth straight loss.Treasury bonds met and shares continued a recession drags the S & P 500 by 3.9 percent last week, its worst fall in a year, as the Institute for Supply Management's factory index sank to its lowest level since last manufacturing contracted in July 2009. "Other reports reveal today rates of plant from Asia to Europe fell as demand weakened last month."The ISM figures people interested on the third quarter, "Peter jankovskis.", who helps manage about 2.6 million dollars in Oakbrook investments in Lisle, Illinois, said in a telephone interview "No doubt was a negative surprise compensation optimism about a final vote on the debt ceiling."U.S. bond yields thirty years fell three basis points to 4.09%, also the lowest since November. Swaps credit default of five-year Treasury bond fell eight points to 54, the increased recoil from February 2010, according to the CMA data provider.ISM sinks StocksThe S & P 500 increased to its high of the session in the first half hour of operation, before deleting the gains after ISM factory indicator, released at 10 a.m. hour in New York, dropped to 50.9 in July from the previous month 55.3. The economists project the meter fall to 54.5, according to the median forecast in a Bloomberg News survey. Other reports showed United Kingdom, who married Russian manufacturing and Australian, while it decreased the rate of growth of the factory in Europe and the China.Today data added to concerns that economic recovery is confused when the United States Commerce Department reported last week that us gross domestic product increased at an annual rate of 1.3 per cent less than the forecast in the second quarter after a gain of "0.4 per cent in the previous quarter which was less than previously estimated."Now the market is turning its approach to this agreement to the global economic slowdown, "Jack Malvey, strategist head of international markets at the Bank of New York Mellon Corp., said in an interview on Bloomberg television." "I think that we can see a continuation of the kind of turbulence, linked range over the last few months," he said. "It is not only the United States". "It is Europe."RatesHealth-care Medicare populations led declines among eight of the 10 main industries of S & P 500 down 1.7 percent as a group. Medicare, the health plan of U.S. for the elderly and disabled, announced a rate of 11.1 percent for next year. Health care REIT Inc., a specialist in housing senior and health real estate investment trust, had sunk 8.5 per cent for the greatest loss in the S & P 500. Merck & Co. and Home Depot Inc. lost more than 1.9 percent to cause decreases in 21 of the 30 stocks in the Dow Jones Industrial average. The Dow closed 10.75 points, or 0.1 per cent, lower at 12,132.49 after climbing up 139 points in the first half-hour of trading and losing more than 145 points at midday.All eyes on CongressStocks recovered from their lows of the session as Republican leaders and the administration of Obama sound optimistic that Congress will pass a compromise plan to raise U.S. debt limit by at least 2.1 trillion dollars and slash federal spending by $ 2.4 trillion or more. The House plans to vote today on the agreement after a struggle months to raise the ceiling of $ 14.3 billion before the nation debt capacity expires tomorrow. Leader of the majority of the Senate Harry Reid said that a vote of the Senate "could happen tonight or tomorrow".The dollar strengthened 10 of 16 major pairs, while the yen weakened against 11 of 16 after Rally before against the majority. Japan expressed the intention to sell the yen as necessary to curb their appreciation, reported Nikkei.La European Stoxx 600 index fell 1.2 percent to a low of eight months and had extended its slide this year high in February to 10 per cent. The banks helped to lead to losses, with the Banco Santander SA Spanish by 3.8 per cent and Intesa Sanpaolo SpA of Italy losing 7.9 per cent.Earnings SeasonWhile estimated that 78% of the companies in the S & P 500 which reported earnings that he headed the average July 11 for participation analysts, profits at European firms are the end of the projections by the majority in at least five years, dragged down by manufacturing firms that had been forecast to lead a rally in the second half of the year. About 52 percent of the companies in the Stoxx 600 reported earnings from July 11 lost projections of analysts.Spain 10 year bond yield increased 12 points from base to 6.16 per cent, while Italy increased by 14 basis points to 5.99 per cent.Oil fell 0.9% to a minimum of one month for $94.89 a barrel in New York, reversing a rally of 3%. Future gold for December delivery retreated from a record, sliding 0.6 per cent to $1,621.70 an ounce after sinking 1.4 per cent previously. The S & P GSCI index of basic 24 products lost 0.3% after increased 2.1 percent in overnight operations.Beat stocks of raw materials, bonds and the dollar for the first time in three months in July as expectations that China's booming economy will stimulate the demand for raw materials exceed the the debt crisis in United States and Europe.en S & P GSCI Total return index of 24 commodities increased 2.4 percent in July, ending two months of lossesWhile the country All MSCI World Index of shares fell 1.7 per cent. Links of all kinds returned an average 0.8 per cent, according to the Bank of America Merrill Lynch Global broad market index. The dollar index fell 0.6 percent and played a minimum of 10 weeks.-Publisher: Nick Baker, Michael p. Regan
To contact the reporters on this story: Michael p. Regan in mregan12@bloomberg.net in New York; Rita Nazareth in New York at rnazareth@bloomberg.net
To contact the editor responsible for this story: Nick Baker in nbaker7@bloomberg.net
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