US : 10-Year Treasury note futures up after Italian referendum

NEW YORK : U.S. Treasury futures prices rose on Sunday after Italian voters were seen rejecting a change to the country’s constitution, which was designed to hasten the legislative process.

Ten-year Treasury note futures prices were up 0.35 percent shortly after electronic trading resumed on Sunday evening, signaling that nominal Treasury yields might pull back from 18-month highs reached late last week.

Treasuries fell hard in November on bets that U.S. President-elect Donald Trump’s policies and higher oil prices would stoke inflation, which erodes bond prices. Last week 10-year yields rose for a fourth straight week, finishing at around 2.39 percent on Friday.