马来亚银行外汇报告（6月20日）

　　US Treasury Market

　　US treasury closed mixed for the week ended 17 June on a mixed bag of economic data and on speculation Greece will struggle to avoid default after its Prime Minister, George Papandreou, failed to win support for more austerity measures to address the nation’s debt crisis. Meanwhile, Moody’s said it might downgrade the ratings of three French banking groups, Credit Agricole, BNP Paribas and Societe Generale, due to their exposure to the Greek economy. On a WoW basis, the 2- and 10-year benchmark securities closed 2bps lower each at 0.38% and 2.95% respectively while the 30-year benchmark security closed 2bps higher at 4.21% On the economic front, retail sales declined 0.2% in May after rising 0.3% in the previous month. The decline, the first time in 11 months, was attributable mainly to a 2.9% decline in motor vehicle sales. Meanwhile, the U.S. consumer price index (CPI) climbed 0.2% in May, higher than the economists’forecast for a 0.1% rise. Excluding the often volatile food and energy prices, CPI increased 0.3%, the largest jump since July 2008, as the indexes for apparel, shelter, new vehicles and recreation moved higher. Separately, industrial production in the U.S rose 0.1% in May, slightly lower than consensus forecast for a 0.2% rise due mainly to a decline in utility output and auto parts shortages from Japan. Meanwhile, capacity utilization rate was unchanged at 76.7% in May, lower than consensus estimate for 77.0%.