Investors still seemed to be struggling as the ongoing risks from last year carried over. The S&P 500 and Nasdaq indexes edged lower as the surge in risk appetite from last week faded. Treasuries climbed and the dollar fell to the lowest in more than two months while WTI crude extended its recent rebound. On the trade front, officials from both countries started discussions in Beijing; the first face-to-face encounter since the temporary truce agreed in December last year, to resolve the trade disputes which is set to conclude tomorrow. According to China’s foreign ministry, both sides had expressed their willingness to work together. The dispute over border wall in Washington is still in a stalemate.
Factory Orders which was originally scheduled to be released today has been delayed by the government shutdown. We still have ISM Non-Manufacturing Index which fell to 57.60 from 60.70 prior vs. 58.50 consensus. Fed will release its minutes from December on Wednesday, and Fed Chair Powell is scheduled to speak to the Economic Club of Washington on Thursday.
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Investors still seemed to be struggling as the ongoing risks from last year carried over. The S&P 500 and Nasdaq indexes edged lower as the surge in risk appetite from last week faded. Treasuries climbed and the dollar fell to the lowest in more than two months while WTI crude extended its recent rebound. On the trade front, officials from both countries started discussions in Beijing; the first face-to-face encounter since the temporary truce agreed in December last year, to resolve the trade disputes which is set to conclude tomorrow. According to China’s foreign ministry, both sides had expressed their willingness to work together. The dispute over border wall in Washington is still in a stalemate.
Factory Orders which was originally scheduled to be released today has been delayed by the government shutdown. We still have ISM Non-Manufacturing Index which fell to 57.60 from 60.70 prior vs. 58.50 consensus. Fed will release its minutes from December on Wednesday, and Fed Chair Powell is scheduled to speak to the Economic Club of Washington on Thursday.
The curve has bull-flattened with UST 10-