BOND REPORT: Treasurys Extend Selloff As Trump's Tax Plan Weighs On Government Bonds

By Sunny Oh Features Dow Jones Newswires

Revised second-quarter GDP data set to come out at 8:30 a.m. Eastern

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Treasury prices continue to fall, pushing yields higher, on Thursday to extend the pervious sessions' selloff as growing expectations for President Donald Trump's tax plan continued to weigh on appetite for government paper.

In the past, bond investors have been skeptical of prospects for tax legislation. But with more concrete details unveiled, Treasurys have seen selling pressure. Nonetheless, analysts feel there are plenty of stumbling blocks that could serve as roadblocks.

"The involvement of the House GOP leaders adds an air of legitimacy to the effort, although that alone does very little to make goals of the tax plan any more politically obtainable," wrote Ian Lyngen and Aaron Kohli, fixed-income strategists at BMO Capital Markets.

What are bond yields doing?

The benchmark 10-year Treasury yield is up 2.7 basis points to 2.336%, from 2.309% seen in the late Thursday. The shorter 2-year note yield pared the previous session's gains, edging lower to 1.478% from 1.483%. While, the 30-year bond yield rose 2.3 basis points to 2.889%, versus 2.862%. Bond yields move in the opposite direction of prices.

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What else is the market anticipating?

What data is on deck?

(END) Dow Jones Newswires

September 28, 2017 08:30 ET (12:30 GMT)