BOND REPORT: European Bonds Sell Off As Draghi's Words Keep Weighing

Greek Economy Minister Optimistic After Macron Election

On top of that the USA dollar fell, hitting a 10 month low against the euro and United States bond yields rose sharply on those comments from European Central Bank president Mario Draghi who called an end to the dangers of deflation in Europe and indication that reflationary pressures were now the chief concern.

Draghi said a variety of factors were slowing the reflationary process but "are on the whole temporary and should not cause inflation to deviate from its trend over the medium term, so long as monetary policy continues to maintain the solid anchoring of inflation expectations", according to the text of the speech.

The euro also continued its ascent against the dollar after notching its largest one-day gain in a year on Tuesday.

The euro-yen movements have spilled over to the dollar, which at one point strengthened to the mid-112 yen range, its strongest since May 17.

USA gold futures for August delivery climbed 0.2 percent to $1,249.40 per ounce. Britain's FTSE 100 edged 0.1 percent higher, though, to 7,444.10. The 10-year Treasury yield rose to 2.19 percent from 2.13 percent late Monday.

The dollar remained on the defensive after U.S. Senate Republican leaders postponed a vote on a healthcare overhaul on Tuesday, as they faced resistance from party members.

The euro started its upswing from $1.12 on Tuesday after ECB President Mario Draghi said in a speech that "a considerable degree" of stimulus is needed in the eurozone, a step back from the more dovish language used in earlier speeches.

Wellington, Taipei and Manila also retreated but Sydney rose 0.7 percent.

Connect Group PLC (CNCT) Rating Reiterated by Liberum Capital
Voloridge Invest Mngmt Llc owns 51,818 shares for 0.06% of their portfolio. 89 funds opened positions while 156 raised stakes. Marshall Wace Llp reported 0.03% of its portfolio in Nextera Energy Partners LP (NYSE:NEP). (NASDAQ:AAON).

Among other markets Hong Kong was up 0.1 percent, Shanghai was flat, Sydney fell 0.4 percent and Singapore put on 0.4 percent.

The dollar had risen to levels around 112.46 yen on Tuesday, its strongest level in more than a month, as US bond yields edged higher in sympathy with a rise in European bond yields.

However, Toshiba fell more than two percent after a report in the respected Nikkei business daily said the form was set to sign a deal offloading its prized memory chip business to a consortium of US, South Korean and state-backed Japanese investors.

Spot gold added 0.2 percent to $1,246.90 an ounce. Google said it was considering an appeal.

"The Fed chair is scheduled to take part in a discussion on global economic issues at London's Royal Academy, and is seen likely to stick to her positive views on the USA economy despite a recent batch of weak US economic data, supporting the Fed's forecast of raising interest rates once more this year". Stada Arzneimittel AG fell 3 percent after investors in the company tendered too few shares to private equity firms Bain Capital and Cinven, quashing a takeover plan that had been secured after weeks of fierce competition.

Copper rose 0.90 percent to $5,846.50 a tonne.

OIL: Benchmark U.S. crude was up 44 cents, or 1 percent, to $43.82 per barrel in NY.

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