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(CEP News) - With U.S. markets closed for Independence Day, Canadian fixed income markets are higher ahead of the release of the Ivey Purchasing Managers' Index for June. European bond markets are also higher as comments from policy-makers and central bankers echo those made by ECB President Jean-Claude Trichet on Thursday after interest rates were hiked.
At 10 a.m. EDT, the Ivey School of Business will release its purchasing manager's index for June. The consensus is looking for a decline from May's 62.5 reading to a level of 62.3. Yields on two-year Canadian government bonds are down 2.1 bps to 3.19%, with five-year yields down 2.1 bps to 3.43%, 10-year yields down 2.2 bps to 3.72% and 30-year yields down 1.6 bps to 4.05%. In Germany, returns on two-year German bonds are down 2.6 bps to 4.42%, with five-year yields down 3.6 bps to 4.50%, 10-year yields down 1.6 bps to 4.54% and 30-year yields up 3.7 bps to 4.84%. Yields on UK two-year bonds are down 2.7 bps to 5.03%, with five-year yields down 2.7 bps to 5.00%, 10-year yields are down 2.7 bps to 5.01% and 30-year yields are down 1.5 bps to 4.63%. U.S. equity market futures are lower with contracts on the Dow Jones Industrial Average down 38 points to 11250, the S&P 500 down 6 points to 1259 and the Nasdaq down 6 points to 1816. European stock markets are also lower, with the Eurostoxx down 32 points to 2841, the UK FTSE 100 down 60 points to 5416 and the German DAX down 67 points to 6287. Asian markets were mixed, with the Japanese Nikkei closing down 28 points to 13238 and the Hang Seng Index up 181 points to 21424. The Canadian dollar is up 0.0020 to 0.9843 against the U.S. dollar (1.0159 USD/CAD) and up 0.1600 to 105.0100 against the yen. The U.S. dollar is down 0.0490 to 106.6860 against the yen and the Dollar Index is up 0.006 to 72.748. The euro is down 0.0023 to 1.5680 against the U.S. dollar, down 0.0057 to 1.5929 against the Canadian dollar, down 0.0008 to 0.7909 against the pound sterling and is lower by 0.33 to 167.28 against the yen. The pound sterling is down 0.0008 to 1.9826 against the U.S. dollar and down 0.0047 to 2.0142 against the Canadian dollar. WTI crude oil is down $1.22 to $144.07. All data taken at 8:57 a.m. EDT. By Erik Kevin Franco,
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, edited by Stephen Huebl,
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