May 19, 2025
United States:
Treasuries, Dollar Fall as Moody’s Sharpens Focus on US Debt
Long-dated Treasuries fell on Monday as investor attention turned to the US’ ballooning debt after Moody’s Ratings stripped the nation of its last top credit rating.
The 30-year yield rose as much as nine basis points to 5.03%, the highest since November 2023. The benchmark 10-year rate climbed seven basis points to 4.55%.
Europe:
Euro-Area Inflation to Fall Below 2% on US Tariffs, EU Predicts
Euro-area inflation will fall below the European Central Bank’s target next year because of fallout from US trade policies, according to the European Commission.
Consumer-price growth will slow to the 2% goal by the middle of this year and average only 1.7% in 2026, the EU’s executive arm said in its spring forecast released on Monday.
Asia:
China Consumption Miss Overshadows Factory Strength Amid Tariffs
China’s industrial output expanded faster than expected in April while consumption disappointed, highlighting the challenges facing the world’s second-largest economy despite a quick de-escalation of trade tensions with the US.
Industrial output climbed 6.1% year on year in April, slowing from the prior month but far exceeding the median estimate in a Bloomberg survey of analysts.
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