The UST10-Year yield is at 2.337% this morning after closing at 2.313% Friday.
U.S. Treasury yields opened higher this morning following Treasury Secretary Mnuchin speech this weekend where he indicated that the earliest we will see a personal tax reform would be in 6 months, however, he failed to provide details on corporate taxes and monetary policy, which have become a focal point for investors.
In economic news, The Department of Commerce released Durable Goods Orders, which rose 1.80% in January partly due to a 69.90% increase in orders for commercial aircraft. Durable Goods Ex Transportation fell by 0.20% vs. a 0.90% increase the previous month. The National Association of Realtors released Pending Home Sales which declined 2.80% MoM to 106.40, the lowest level since January 2016. Overall, Pending Home SalesYoY have increased 2.70%.
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U.S. Treasury yields opened higher this morning following Treasury Secretary Mnuchin speech this weekend where he indicated that the earliest we will see a personal tax reform would be in 6 months, however, he failed to provide details on corporate taxes and monetary policy, which have become a focal point for investors.
In economic news, The Department of Commerce released Durable Goods Orders, which rose 1.80% in January partly due to a 69.90% increase in orders for commercial aircraft. Durable Goods Ex Transportation fell by 0.20% vs. a 0.90% increase the previous month. The National Association of Realtors released Pending Home Sales which declined 2.80% MoM to 106.40, the lowest level since January 2016. Overall, Pending Home Sales YoY have increased 2.70%.
The curve has bear-steepened with the UST 10-Year 2.4 bps up from prior closing.