The UST10-Year yield is at 2.415% this morning after closing at 2.396% yesterday.
This morning, U.S. Treasuries have continued to sell-off following President Donald Trump’s meeting with airline executives where he pledged to cut business taxes in the near future and stated he would announce details for the tax overhaul in the next three weeks. The news also prompted the first U.S. dollar rally for the week, with the DXY up 0.27% to 100.95 and Crude oil prices up 55 cents to $53.33 per barrel.
In economic news, Import Prices rose 0.40% in January vastly due to higher import prices for petroleum and natural gas. The Price Index for overall imports has been on the rise since March 2016 and rose to 3.70% YoY, the largest annual advance since February 2012. The University of Michigan Consumer Confidence gauge for personal finances was little unchanged for the month of February, at 111.20, however, the measure of expectations 6 months from now declined to a 3-month low of 85.70 from 90.30 as expectations for wage gains in the upcoming future deteriorated.
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This morning, U.S. Treasuries have continued to sell-off following President Donald Trump’s meeting with airline executives where he pledged to cut business taxes in the near future and stated he would announce details for the tax overhaul in the next three weeks. The news also prompted the first U.S. dollar rally for the week, with the DXY up 0.27% to 100.95 and Crude oil prices up 55 cents to $53.33 per barrel.
In economic news, Import Prices rose 0.40% in January vastly due to higher import prices for petroleum and natural gas. The Price Index for overall imports has been on the rise since March 2016 and rose to 3.70% YoY, the largest annual advance since February 2012. The University of Michigan Consumer Confidence gauge for personal finances was little unchanged for the month of February, at 111.20, however, the measure of expectations 6 months from now declined to a 3-month low of 85.70 from 90.30 as expectations for wage gains in the upcoming future deteriorated.
The curve has bear-steepened with the UST 10-Year 1.3 bps up from prior closing.
Have A Great Weekend!