Stock markets and US dollar retreat before key Trump speech
Donald Trump is expected to unveil details on pro-growth policies including infrastructure spending
New York — World stock markets and the US dollar fell on Monday while US Treasury yields rose amid investor caution ahead of a key speech by US President Donald Trump. The dollar fell ahead of Trump’s State of the Union address, during which he is expected to unveil details on pro-growth policies including infrastructure spending. "There is setting up for what people expect might be at least a focus on things like fiscal stimulus and infrastructure spending of some kind, that might actually boost risk and cause yields to rise," said Aaron Kohli, an interest rate strategist at BMO Capital Markets in New York. US 10-year Treasury notes were last down 7/32 in price to yield 2.342%, from a yield of 2.317% late Friday. Two-year notes US2YT=RR were last down 1/32 in price to yield 1.169%, from a yield of 1.145% late Friday. The dollar was down 0.3% against a basket of major currencies after Trump said Monday that tax reform details would not be revealed until after the administration’s pr...
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