Stocks edged higher amid growing optimism for the trade talks and haven assets declined. WTI crude extended its gain toward $53 a barrel. As the partial government shutdown entered its 28th day, prospects for breaking the impasse seem even lower now after President Trump denied House Speaker Pelosi a military plane for an unannounced trip to Afghanistan to visit US troops. President Trump also cancelled the US delegation’s trip to the global economic summit in Davos. Many analysts now expect this ongoing shutdown to drag on through February. The political standoff also continued in the UK as they gained no progress on the Brexit deal with only about 10 weeks out until the country is due to exit the EU.
Industrial Production in December came in slightly above estimate of 0.20% at 0.30%, a 0.10% decline from 0.40% revised prior. Capacity Utilization also printed a reading above expectation at 78.70% vs. 78.50% consensus and 78.60% revised prior. US Manufacturing Production increased in December by the most in 10 months to 1.10% vs. 0.30% survey. Lastly, US Consumer Sentiment tumbled to the lowest since October 2016 to 90.70 amid the ongoing shutdown vs. 96.80 survey and 98.30 prior.
This information is provided solely for informational use and is not intended as trading or investment advice in any manner whatsoever. Sun West Mortgage Company, Inc. is not a licensed or registered broker or dealer and cannot provide investment strategies or recommendations. This information is provided to licensed brokers/lenders only and may not be copied or distributed to customers or potential customers. All loans are subject to approval. Certain restrictions may apply. Listed pricing is a morning indication only. Program rates, prices, guidelines, fees, costs, terms and conditions are subject to change without notice
Stocks edged higher amid growing optimism for the trade talks and haven assets declined. WTI crude extended its gain toward $53 a barrel. As the partial government shutdown entered its 28th day, prospects for breaking the impasse seem even lower now after President Trump denied House Speaker Pelosi a military plane for an unannounced trip to Afghanistan to visit US troops. President Trump also cancelled the US delegation’s trip to the global economic summit in Davos. Many analysts now expect this ongoing shutdown to drag on through February. The political standoff also continued in the UK as they gained no progress on the Brexit deal with only about 10 weeks out until the country is due to exit the EU.
Industrial Production in December came in slightly above estimate of 0.20% at 0.30%, a 0.10% decline from 0.40% revised prior. Capacity Utilization also printed a reading above expectation at 78.70% vs. 78.50% consensus and 78.60% revised prior. US Manufacturing Production increased in December by the most in 10 months to 1.10% vs. 0.30% survey. Lastly, US Consumer Sentiment tumbled to the lowest since October 2016 to 90.70 amid the ongoing shutdown vs. 96.80 survey and 98.30 prior.
The curve has bear-flattened with UST 10-Year yield up 1.94 bps.