Treasury Yields Lower as Earnings Season Kicks Off
Market opened today’s session with treasuries edging higher across all maturities. 10-yearTreasury yield is at 1.8231, 2.28 bps decreased from prior closing of 1.8459.
US stock index futures fluctuated this morning as investors awaited signing of the phase one deal tomorrow. Corporate earnings season also officially kicked off with JP Morgan Chase posting stronger-than-expected quarterly earnings and revenue as well as annual profits that reached a record level. Delta Air Line also posted results topping estimates, resulting gains for both companies in the premarket. Despite of their strong results, expectations among investors for the corporate earnings stayed dimmed. On the trade front, with signing of the phase one deal scheduled to take place tomorrow, Washington lifted China off its watch list of currency manipulators, pushing the yuan to its strongest level in almost six months. Elsewhere, WTI slightly advanced this morning after days of losing streak, trading above $58 a barrel.
NFIB Small Business Optimism in December slid to 102.70 from 104.70 prior vs. 104.60 consensus. Economic growth appears to have slowed at year end last year and economists now project it to be weaker in 2020. Both the headline and the core CPI readings slightly edged lower in December to 0.20% and 0.10% from 0.30% and 0.20% prior, respectively. Later today, Kansas City Fed President George is scheduled to discuss her economic and monetary policy outlook at her bank at 10:00 AM (PT).
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Treasury Yields Lower as Earnings Season Kicks Off
US stock index futures fluctuated this morning as investors awaited signing of the phase one deal tomorrow. Corporate earnings season also officially kicked off with JP Morgan Chase posting stronger-than-expected quarterly earnings and revenue as well as annual profits that reached a record level. Delta Air Line also posted results topping estimates, resulting gains for both companies in the premarket. Despite of their strong results, expectations among investors for the corporate earnings stayed dimmed. On the trade front, with signing of the phase one deal scheduled to take place tomorrow, Washington lifted China off its watch list of currency manipulators, pushing the yuan to its strongest level in almost six months. Elsewhere, WTI slightly advanced this morning after days of losing streak, trading above $58 a barrel.
NFIB Small Business Optimism in December slid to 102.70 from 104.70 prior vs. 104.60 consensus. Economic growth appears to have slowed at year end last year and economists now project it to be weaker in 2020. Both the headline and the core CPI readings slightly edged lower in December to 0.20% and 0.10% from 0.30% and 0.20% prior, respectively. Later today, Kansas City Fed President George is scheduled to discuss her economic and monetary policy outlook at her bank at 10:00 AM (PT).
The curve has bull-flattened with UST 10-Year yield down 2.28 bps.