• June 3, 2024

Treasury Yields Fall, Dollar Weakens As Manufacturing Activity Gauge Contracts More Than Expected

The U.S. manufacturing activity barometer contracted more than expected in May, leading to a sharp retreat in Treasury yields at the start of the week. After falling back into contraction in April, manufacturing activity continued to decline for the second consecutive month, according to the Institute for Supply Management (ISM) survey. Yields on the benchmark 10-year Treasury bond fell by nine basis points to 4.41%, marking the third straight day of declines. Longer-dated yields also saw simila

  • June 3, 2024

Crypto Requires 'Harmonized Approach': European Commission

Europe needs to change the rules on cryptocurrency to ensure a harmonized approach across the continent, according to Helene Bussieres, deputy head of asset management at the European Commission. Speaking at ETF Stream’s ETF Ecosystem Unwrapped 2024 last week, Bussieres said “harmonization and convergence” were essential to stop national regulators from taking diverging approaches to the asset class. Earlier this month, the European Securities and Markets Authority (ESMA) launched a review of the UCITS-eligible assets directive, potentially opening the door to allowing direct exposure crypto in UCITS.