The following were the yield and basis point (bp) movements of some of the most-watched 10-year bonds this afternoon:
US: 2.39% (+1bp)
UK: 2.45% (+3bp)
Germany: 0.94% (-1bp)
France: 1.28% (-4bp)
Spain: 2.17% (-9bp)
Italy: 2.41% (-7bp)
Japan: 0.50% (-1bp)
Portugal: 3.05% (+1bp)
Greece: 5.67% (-3bp)
Sovereign bond yields in the Eurozone fell back further on Tuesday in the aftermath of European Central Bank President Mario Draghi's unscripted remarks at Jackson Hole, as economists at Daiwa Research highlighted.
Draghi defended the need to employ existing leeway on the fiscal front within the Eurozone, especially when in support of structural reforms.
Nevertheless, Daiwa believes that in the very near-term the ECB will forego any additional moves on the monetary policy front, at least until the monetary authority has launched the first round of its so-called targeted long-term refinance operations (TLTROs), on 18 September, and concluded its 'asset quality review' on 17 October.
The latest Eurozone consumer price figures, for the month of August, are set for release on 29 August.
Back Stateside, orders for US durable goods surged 22.6% month-on-month in July, following a 2.7% gain in June, driven by a 318% surge in aircraft orders. Analysts had expected an 8% increase.
"Overall, with some producers starting to push up against capacity constraints and loans to businesses rising at a rapid rate, we suspect that investment will prove to be one of the economy's bright spots in the second half of this year," Capital Economics said.
The Conference Board institute's index for US consumer confidence rose to 92.4 in August from a revised 90.3 in July, surprising analysts who had expected a reading of 89.
However, expectations for the economic outlook fell slightly to 90.9 from 91.9 in July.
"While the expectations index has been volatile in recent years, the present situation index has been steadily trending higher over that time, mirroring improvements in housing and labour markets," Barclays Research said.
Further afield, in the People's Republic of China, the seven-day repurchase rate dropped 21 basis points to 3.29% as the country's monetary authority limited the amount of funds it drained from the financial system, via repurchase agreements, to just 10bn yuan.