Treasuriesare lower than yesterday at the opening of today’s session. The yield on the UST10-Year is currently at 2.881% after closing at 2.823% during the prior session.
Initial Jobless Claims for the week ended February 3 reached 221k, below survey of 232k and dropping from its previous 230k mark; while Continuing Claims for the week ended January 27 reached 1923k, below survey of 1940k and dropping from its previous mark of 1956k revised. Also in today, Bloomberg Consumer Comfort for the week ended February 4 scored at 54.40, slightly below its previous 54.60 mark. Finally, Mortgage Delinquencies for the 4Q rose to 5.17% from 4.88% prior; while Mortgage Foreclosures for the 4Q dropped to 1.19% from 1.23% prior.
The Senate seems to be ready to pass a bipartisan budget deal today that would avoid a federal government shutdown, temporarily suspend the debt ceiling and fund operations until the beginning of 2019. However, the same bill is facing roadblocks in the House of Representatives, where Democrats are claiming there is no agreement on an immigration debate and the more conservative Republican wing believes it increases domestic spending.
Fed Presidents Kaplan, Harker, Kashkari and George are scheduled to address various forums today on monetary policy and economic outlook.
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Initial Jobless Claims for the week ended February 3 reached 221k, below survey of 232k and dropping from its previous 230k mark; while Continuing Claims for the week ended January 27 reached 1923k, below survey of 1940k and dropping from its previous mark of 1956k revised. Also in today, Bloomberg Consumer Comfort for the week ended February 4 scored at 54.40, slightly below its previous 54.60 mark. Finally, Mortgage Delinquencies for the 4Q rose to 5.17% from 4.88% prior; while Mortgage Foreclosures for the 4Q dropped to 1.19% from 1.23% prior.
The Senate seems to be ready to pass a bipartisan budget deal today that would avoid a federal government shutdown, temporarily suspend the debt ceiling and fund operations until the beginning of 2019. However, the same bill is facing roadblocks in the House of Representatives, where Democrats are claiming there is no agreement on an immigration debate and the more conservative Republican wing believes it increases domestic spending.
Fed Presidents Kaplan, Harker, Kashkari and George are scheduled to address various forums today on monetary policy and economic outlook.
The curve has bear-steepened with the UST 10-Year yield up 5.8 bps from prior closing.