Treasuriesare lower from Friday at the opening of today’s session. The yield on the UST10-Year is currently at 2.892% after closing at 2.876% during the prior session.
The U.S. Treasury Department is scheduled to issue $151 Billion of short-term notes and $28 Billion of 2-Year notes this week as inflation fears among traders have sent the 10-Year note close to a milestone 3.00% yield. The 3.00% mark has not been reached since December 2013 and may have the undesired consequence of elevating corporate financing costs on the short-term, among others.
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The U.S. Treasury Department is scheduled to issue $151 Billion of short-term notes and $28 Billion of 2-Year notes this week as inflation fears among traders have sent the 10-Year note close to a milestone 3.00% yield. The 3.00% mark has not been reached since December 2013 and may have the undesired consequence of elevating corporate financing costs on the short-term, among others.
The economic calendar for this week starts tomorrow with Mortgage Applications, Markit Manufacturing & Services PMI, Home Sales and the FOMC Minutes for the January 31 meeting. It concludes on Thursday with Initial & Continuing Jobless Claims, Leading Index, Kansas City Fed Manufacturing Index and the Bloomberg Comfort Index.
The curve has bear-flattened with the UST 10-Year yield up 1.6 bps from prior closing.