Market opened with treasuries slightly higher across the curve this morning as investors hope for more clarity on President Trump's fiscal-policy plans. Last week the market continuously sold-off leading up to the inauguration of the 45th president of the United States. The UST10-Year yield is lower this morning at 2.461% this morning after closing at 2.467% on Friday.
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There are no data scheduled to be released today with another light economic calendar week. Tomorrow we have the Existing Home Sales and Markit US Manufacturing PMI. On Wednesday, we have the MBA Mortgage Applications and FHFA House Price Index MoM, and on Thursday, we have Wholesale Inventories MoM, Initial Jobless and Continuing Claims, and New Home Sales. Lastly, on Friday we have the first reading on 4Q GDP, where expectations are that the economy expanded 2.20% on a slightly slower 2.50% pace of growth in personal consumption.
The curve has bull-flattened with the UST 10-Year down 1.7 bps from prior closing.