The UST10-Year yield is at 2.437% this morning after closing at 2.416% Friday.
This morning, U.S. Treasuries yields inched higher following Philadelphia Fed president Pat Harker's hawkish comments this past Friday, where he expressed his support for rate hike in the upcoming March FOMC meeting should signs of inflationary pressure be sustained, along with continued strengthening of the labor market.
Later today, several members of the Federal Reserve will be speaking, starting with Minneapolis Fed President Neel Kashkari, who will discuss the Fed's role in the economy, followed by Fed President Patrick Harker, who will touch on the economic outlook, and San Francisco Fed President John Williams, who will address students of Boise State University on “Getting to know the Fed”.
In economic releases, Manufacturing PMI came in lower than expected, at 54.30, the lowest reading in 5 months. Services PMI fell to 53.90 vs. 55.60 previously and Composite PMI dropped 1.50 to 54.30.
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This morning, U.S. Treasuries yields inched higher following Philadelphia Fed president Pat Harker's hawkish comments this past Friday, where he expressed his support for rate hike in the upcoming March FOMC meeting should signs of inflationary pressure be sustained, along with continued strengthening of the labor market.
Later today, several members of the Federal Reserve will be speaking, starting with Minneapolis Fed President Neel Kashkari, who will discuss the Fed's role in the economy, followed by Fed President Patrick Harker, who will touch on the economic outlook, and San Francisco Fed President John Williams, who will address students of Boise State University on “Getting to know the Fed”.
In economic releases, Manufacturing PMI came in lower than expected, at 54.30, the lowest reading in 5 months. Services PMI fell to 53.90 vs. 55.60 previously and Composite PMI dropped 1.50 to 54.30.
The curve has bear-steepened with the UST 10-Year 2.1 bps up from prior closing.