Treasuries are lower than yesterday at the opening of today’s session. The yield on the UST10-Year is currently at 2.847% after closing at 2.829% during the prior session.
This week’s calendar concludes today with Jobs results for January, Housing and Industrial results for February; and preliminary Inflation readings for March.
JOLTS Job Openings’ reading for January came in today at 6312, versus estimates of 5917 and prior mark of 5667 revised. Month-over-monthHousing Starts for February changed by -7.00%, versus estimated change of -2.70% and down from previous 10.10% revised; while Housing Starts for February reached 1236k, below estimates of 1290k and down from prior 1329k revised. Month-over-monthBuilding Permits for February changed by -5.70%, versus estimated change of -4.10% and down from prior 5.90% revised; while Building Permits for February reached 1298k, below estimates of 1320k and down from 1377k. Further, month-over-month Industrial Production for February reflected a 1.10% change, above survey of 0.40% and up from prior -0.30% revised; while Manufacturing Production for February reflected a 1.20% change, above estimates of 0.50% and up from -0.20% revised.
Finally, the preliminary March reading for the University of Michigan 1 YR Inflation came in at 2.90% versus 2.70% prior; while the preliminary March reading for the 5-10 YR Inflation came in at 2.50%, in line with prior reading. Preliminary March reading for Current Conditions came in at 122.80 versus prior 114.90; while the preliminary March reading for Consumer Sentiment registered 102.00, versus estimates of 99.30 and prior mark of 99.70.
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This week’s calendar concludes today with Jobs results for January, Housing and Industrial results for February; and preliminary Inflation readings for March.
JOLTS Job Openings’ reading for January came in today at 6312, versus estimates of 5917 and prior mark of 5667 revised. Month-over-month Housing Starts for February changed by -7.00%, versus estimated change of -2.70% and down from previous 10.10% revised; while Housing Starts for February reached 1236k, below estimates of 1290k and down from prior 1329k revised. Month-over-month Building Permits for February changed by -5.70%, versus estimated change of -4.10% and down from prior 5.90% revised; while Building Permits for February reached 1298k, below estimates of 1320k and down from 1377k. Further, month-over-month Industrial Production for February reflected a 1.10% change, above survey of 0.40% and up from prior -0.30% revised; while Manufacturing Production for February reflected a 1.20% change, above estimates of 0.50% and up from -0.20% revised.
Finally, the preliminary March reading for the University of Michigan 1 YR Inflation came in at 2.90% versus 2.70% prior; while the preliminary March reading for the 5-10 YR Inflation came in at 2.50%, in line with prior reading. Preliminary March reading for Current Conditions came in at 122.80 versus prior 114.90; while the preliminary March reading for Consumer Sentiment registered 102.00, versus estimates of 99.30 and prior mark of 99.70.
The curve has bear-steepened with the UST 10-Year yield up 1.8 bps from prior closing.
Have A Nice Weekend!