Today’s session opened with Treasuries lower than Friday. The yield on the UST10-Year is currently at 2.453% after closing at 2.406% during the prior session.
The economic calendar for the first week of the New Year kicked off today with the Markit Manufacturing PMI. The index’s forecast December print came in today at 55.10, marginally above expectations of 55.00 and its 55.00 prior. The calendar continues tomorrow with MBA Mortgage Applications, Construction Spending and the minutes release of the FOMC’s December 13 meeting. On Thursday, January 4, St. Louis Fed President James Bullard is scheduled to deliver a keynote address at a conference in Philadelphia.
Meanwhile, legislative leaders will resume negotiations this week to produce a bill that funds federal government spending before the current January 19 debt ceiling deadline.
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The economic calendar for the first week of the New Year kicked off today with the Markit Manufacturing PMI. The index’s forecast December print came in today at 55.10, marginally above expectations of 55.00 and its 55.00 prior. The calendar continues tomorrow with MBA Mortgage Applications, Construction Spending and the minutes release of the FOMC’s December 13 meeting. On Thursday, January 4, St. Louis Fed President James Bullard is scheduled to deliver a keynote address at a conference in Philadelphia.
Meanwhile, legislative leaders will resume negotiations this week to produce a bill that funds federal government spending before the current January 19 debt ceiling deadline.
The curve has bear-steepened with the UST 10-Year yield up 4.7 bps from prior closing.