The ongoing concerns over global economic growth were deepened even further by Chinese exports and imports figures from December dropping unexpectedly. US equity futures slipped as Citigroup Inc missed revenue expectation on fixed-income trading which plunged 21 percent in the fourth quarter to the lowest in seven years. Treasuries advanced and the dollar edged lower. In Washington, as the government shutdown entered its fourth week; renewing the record of the longest lapse in federal funding, there still hasn’t been any sign of progress to end the dispute. Elsewhere, WTI crude pared some of its gain from last week this morning.
We don’t have anything posting in the economic calendar today, and many of data for the remainder of the week are likely to be delayed due to the partial government shutdown. The Beige Book will be released by the Fed at 11 AM (PT) on Wednesday.
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The ongoing concerns over global economic growth were deepened even further by Chinese exports and imports figures from December dropping unexpectedly. US equity futures slipped as Citigroup Inc missed revenue expectation on fixed-income trading which plunged 21 percent in the fourth quarter to the lowest in seven years. Treasuries advanced and the dollar edged lower. In Washington, as the government shutdown entered its fourth week; renewing the record of the longest lapse in federal funding, there still hasn’t been any sign of progress to end the dispute. Elsewhere, WTI crude pared some of its gain from last week this morning.
We don’t have anything posting in the economic calendar today, and many of data for the remainder of the week are likely to be delayed due to the partial government shutdown. The Beige Book will be released by the Fed at 11 AM (PT) on Wednesday.
The curve has bull-steepened with UST 10-