NEW YORK (dpa-AFX) – US government bonds have stabilized somewhat after the recent losses on Monday. After a friendly start, the futures contract for ten-year Treasuries (T-Note Future) recently only increased by 0.13 percent to 110.73 points, while the stock markets expanded their gains. The yield on ten-year government bonds was 4.02 percent.
On the bond market, investors followed political developments in Great Britain. Yields there fell noticeably, but are still significantly higher than before the recent market turbulence. Because of the government’s controversial fiscal course, the Bank of England made support purchases of government bonds, and before the weekend Finance Minister Kwasi Kwarteng, who had only been in office for a short time, resigned. His successor Jeremy Hunt has now announced that almost all of the tax breaks announced by Prime Minister Liz Truss and his predecessor will be withdrawn in order to get the financial chaos in the country under control./la/gl/he