The UST10-Year yield is at 2.594% this morning after closing at 2.627% yesterday.
U.S. Treasury yields opened lower this morning after peeking to a September 2014 high of 2.627% yesterday. This morning, the FOMC will commence part one of its 2-day meeting in which the FED is widely expected to raise interest rates by 0.25% at its conclusion tomorrow afternoon.
In economic releases, NFIB Small Business Optimism Index dropped in February for the first time in 5-months to 105.30 from 105.90 the previous month. The Department of Labor released the producer price index, indicating a 0.30% rise in February, largely due to an 1.60% increase in demand for electrical power. Excluding volatile food and energy, MoMPPI rose 0.30% for the 6th consecutive month and corePPI also rose by 0.30%. PPI Demand YoY rose 2.20%, the highest since March 2012. Excluding food and energy, PPI rose 1.50% annually.
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U.S. Treasury yields opened lower this morning after peeking to a September 2014 high of 2.627% yesterday. This morning, the FOMC will commence part one of its 2-day meeting in which the FED is widely expected to raise interest rates by 0.25% at its conclusion tomorrow afternoon.
In economic releases, NFIB Small Business Optimism Index dropped in February for the first time in 5-months to 105.30 from 105.90 the previous month. The Department of Labor released the producer price index, indicating a 0.30% rise in February, largely due to an 1.60% increase in demand for electrical power. Excluding volatile food and energy, MoM PPI rose 0.30% for the 6th consecutive month and core PPI also rose by 0.30%. PPI Demand YoY rose 2.20%, the highest since March 2012. Excluding food and energy, PPI rose 1.50% annually.
The curve has bull-flattened with the UST 10-Year 3.3 bps down from prior closing.