Today’s session opened with Treasuries lower than yesterday. The yield on the UST10-Year is currently at 2.555% after closing at 2.538% during the prior session.
This week’s economic calendar continued today with month-over-month Industrial Production for December rising 0.90%; above estimates of 0.50% and a prior mark of -0.10% revised. Also in today, Manufacturing Production for December rose 0.10%, below both survey and prior mark of 0.30% revised. Further, Capacity Utilization for December reached 77.90%, above estimates of 77.40% and above 77.20% prior revised. Finally, MBA Mortgage Applications for the week ended January 12 rose 4.10%, after rising 8.30% during the prior week; while Home Builders Index for January fell to 72.00 from 74.00 prior, falling in line with market estimates.
Chicago Fed president Evans and Dallas Fed president Kaplan are scheduled to speak today on the U.S. economy and monetary policy in Palm Beach, Florida; while Cleveland Fed president Mester is scheduled to speak on policy communication at Rutgers University. Further, a Treasury10-YearTIPSauction is scheduled for tomorrow at 9:00 AM (PT).
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This week’s economic calendar continued today with month-over-month Industrial Production for December rising 0.90%; above estimates of 0.50% and a prior mark of -0.10% revised. Also in today, Manufacturing Production for December rose 0.10%, below both survey and prior mark of 0.30% revised. Further, Capacity Utilization for December reached 77.90%, above estimates of 77.40% and above 77.20% prior revised. Finally, MBA Mortgage Applications for the week ended January 12 rose 4.10%, after rising 8.30% during the prior week; while Home Builders Index for January fell to 72.00 from 74.00 prior, falling in line with market estimates.
Chicago Fed president Evans and Dallas Fed president Kaplan are scheduled to speak today on the U.S. economy and monetary policy in Palm Beach, Florida; while Cleveland Fed president Mester is scheduled to speak on policy communication at Rutgers University. Further, a Treasury 10-Year TIPS auction is scheduled for tomorrow at 9:00 AM (PT).
The curve has bear-flattened with the UST 10-Year yield up 1.7 bps from prior closing.