The UST10-Year yield is at 2.445% this morning after closing at 2.471% yesterday.
Yesterday, the Federal Open Market Committee concluded its 2-day meeting releasing a boilerplate statement which commented on the continued strength of the U.S. labor market and the expectation for inflation to rise above 2.00% over the medium term, finally stating that it will leave its target rate range unchanged at 0.50% to 0.75%. The reinforcement of rates hiking at such a gradual pace caused the dollar to slip as dollar bulls looked for a faster pace of interest rate hikes given the current pace of economic growth under the new Presidency.
In economic news, Initial Jobless Claims were lower than expected, at 246K vs. the previously revised 260K and the number of people who filed for Continuing Unemployment Claims dropped to 2064K vs. 2103K the previous week. This marks the 100th consecutive week for claims below 300K, the longest streak since 1970. The Consumer Comfort Index rose to 46.60 in the last week of January as confidence in the American economy continue to grow.
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Yesterday, the Federal Open Market Committee concluded its 2-day meeting releasing a boilerplate statement which commented on the continued strength of the U.S. labor market and the expectation for inflation to rise above 2.00% over the medium term, finally stating that it will leave its target rate range unchanged at 0.50% to 0.75%. The reinforcement of rates hiking at such a gradual pace caused the dollar to slip as dollar bulls looked for a faster pace of interest rate hikes given the current pace of economic growth under the new Presidency.
In economic news, Initial Jobless Claims were lower than expected, at 246K vs. the previously revised 260K and the number of people who filed for Continuing Unemployment Claims dropped to 2064K vs. 2103K the previous week. This marks the 100th consecutive week for claims below 300K, the longest streak since 1970. The Consumer Comfort Index rose to 46.60 in the last week of January as confidence in the American economy continue to grow.
The curve has bull-flattened with the UST 10-Year 2.6 bps down from prior closing.