Treasuries are higher than Friday at the opening of today’s session. The yield on the UST10-Year is currently at 2.836% after closing at 2.865% during the prior session.
Today we received the forecast Markit Services PMI for February, which reflected a 55.90, matching both market survey and its previous period mark. Also in today, forecast Markit Composite PMI for February reached 55.80, marginally below its 55.90 for its prior period. Finally, the ISM Non-Manufacturing Composite for February registered a 59.50, above market survey of 59.00 but below its prior 59.90 mark.
Further, Fed Vice Chair for Financial Supervision Randal Quarles speaks on foreign bank regulation today in Washington, while New York Fed President Dudley, Fed Governor Brainard, and Dallas Fed President Kaplan speak tomorrow at the U.S. Virgin Islands, New York City and Houston respectively.
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Today we received the forecast Markit Services PMI for February, which reflected a 55.90, matching both market survey and its previous period mark. Also in today, forecast Markit Composite PMI for February reached 55.80, marginally below its 55.90 for its prior period. Finally, the ISM Non-Manufacturing Composite for February registered a 59.50, above market survey of 59.00 but below its prior 59.90 mark.
The economic calendar for the week continues with Factory Orders and Durable Goods Orders tomorrow; Mortgage Applications, ADP Employment and Trade Balance on Wednesday; Initial and Continuing Claims on Thursday; and Unemployment and Labor Force Participation on Friday.
Further, Fed Vice Chair for Financial Supervision Randal Quarles speaks on foreign bank regulation today in Washington, while New York Fed President Dudley, Fed Governor Brainard, and Dallas Fed President Kaplan speak tomorrow at the U.S. Virgin Islands, New York City and Houston respectively.
The curve has bull-flattened with the UST 10-Year yield down 2.9 bps from prior closing.