The UST10-Year yield is at 2.435% this morning after closing at 2.437% yesterday.
This morning, U.S. Treasuries opened nearly unchanged ahead of Federal Reserve Chair Janet Yellen's testimony in Capitol Hill. Investor eagerly await to hear the Fed's rate hike plans and its stance on QEMBSreinvestment policies.
In economic news, the NFIB Small Business Optimism Index continued to climb in January edging to 105.90, the highest level since December 2004. The recent growth follows the new administration's pledge to revoke 2 regulations per every new one issued, as government regulations have continued to be among the primary issues for small-business owners. The Producer Price Index rose to 0.60% in January, the largest increase since 2012, primarily due to increasing fuel prices, which rose nearly 13.00% for the month. Removing the volatile food and energy, CorePPI only rose to 0.20%. YoYPPI remained unchanged at 1.60%, while CorePPI dropped 0.40% to 1.20%.
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This morning, U.S. Treasuries opened nearly unchanged ahead of Federal Reserve Chair Janet Yellen's testimony in Capitol Hill. Investor eagerly await to hear the Fed's rate hike plans and its stance on QE MBS reinvestment policies.
In economic news, the NFIB Small Business Optimism Index continued to climb in January edging to 105.90, the highest level since December 2004. The recent growth follows the new administration's pledge to revoke 2 regulations per every new one issued, as government regulations have continued to be among the primary issues for small-business owners. The Producer Price Index rose to 0.60% in January, the largest increase since 2012, primarily due to increasing fuel prices, which rose nearly 13.00% for the month. Removing the volatile food and energy, Core PPI only rose to 0.20%. YoY PPI remained unchanged at 1.60%, while Core PPI dropped 0.40% to 1.20%.
The curve has bear-flattened with the UST 10-Year 0.2 bp down from prior closing.