Treasuriesare lower than yesterday at the opening of today’s session. The yield on the UST10-Year is currently at 2.778% after closing at 2.707% during the prior session.
The economic calendartoday features the U.S. Trade Balance for December reaching -$53.10 Billion, below the estimated -$52.10 Billion and declining from its previous mark of -$50.40 Billion revised. Also in today, the JOLTS Job Openings’ print for December came in at 5811, below survey of 5961 and lower from its previous mark of 5978 revised.
A three-day Treasury refunding auction begins today at 10:00 AM (PT) with $26 Billion of 3-Year notes today, $24 Billion of 10-Year notestomorrow, and $16 Billion of 30-Yearbondson Thursday. Further, Congress needs to approve a federal government funding bill before midnight on Thursday, February 8 to avoid a second government shutdown this year. Finally, St. Louis Fed President James Bullard speaks today on the U.S. Economy and Monetary Policy in Lexington, Kentucky; while Fed Presidents Kaplan, Dudley, Evans and Williams are scheduled to address various forums abroad and at home tomorrow.
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The economic calendar today features the U.S. Trade Balance for December reaching -$53.10 Billion, below the estimated -$52.10 Billion and declining from its previous mark of -$50.40 Billion revised. Also in today, the JOLTS Job Openings’ print for December came in at 5811, below survey of 5961 and lower from its previous mark of 5978 revised.
A three-day Treasury refunding auction begins today at 10:00 AM (PT) with $26 Billion of 3-Year notes today, $24 Billion of 10-Year notes tomorrow, and $16 Billion of 30-Year bonds on Thursday. Further, Congress needs to approve a federal government funding bill before midnight on Thursday, February 8 to avoid a second government shutdown this year. Finally, St. Louis Fed President James Bullard speaks today on the U.S. Economy and Monetary Policy in Lexington, Kentucky; while Fed Presidents Kaplan, Dudley, Evans and Williams are scheduled to address various forums abroad and at home tomorrow.
The curve has bear-steepened with the UST 10-Year yield up 7.1 bps from prior closing.