Treasuriesare lower across the curve this morning from yesterday’s close. The UST10-Year yield is currently at 2.854% after closing at 2.825% prior.
A brief partial government shutdown began and ended overnight after President Trump signed a two-year budget agreement that will boost federal spending by nearly $300 Billion. The partial government shutdown began at midnight when lawmakers missed the funding deadline, but lasted only a few hours as the Senate passed the bill early Friday morning.
This week’s quiet economic calendar concludes with the Wholesale Inventories print for December which rose 0.40%, following a 0.20% rise in November. The December Wholesale Trade Sales rose 1.20% following an upwardly revised increase of 1.90% in sales prior. The Trade Sales print came in above expectations as consensus called for a 0.40% increase.
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A brief partial government shutdown began and ended overnight after President Trump signed a two-year budget agreement that will boost federal spending by nearly $300 Billion. The partial government shutdown began at midnight when lawmakers missed the funding deadline, but lasted only a few hours as the Senate passed the bill early Friday morning.
This week’s quiet economic calendar concludes with the Wholesale Inventories print for December which rose 0.40%, following a 0.20% rise in November. The December Wholesale Trade Sales rose 1.20% following an upwardly revised increase of 1.90% in sales prior. The Trade Sales print came in above expectations as consensus called for a 0.40% increase.
The curve has bear-steepened with the UST 10-Year yield up 2.9 bps from prior closing.
Have A Nice Weekend!