Treasuries are lower than Thursday at the opening of today’s session. The yield on the UST10-Year is currently at 2.765% after closing at 2.740% during the prior session.
The economic calendar for the first week of April kicked off today with month-over-monthConstruction Spending for February rising 0.10% versus previous mark of 0.00%, but falling short of estimated 0.40%. Also released today, forecast Markit U.S. Manufacturing PMI for March reached 55.60, slightly below both prior mark and estimated 55.70; while ISM Manufacturing for March reached 59.30, below survey of 59.60 and down from previous 60.80. Further, ISM Employment for March reflected 57.30 versus prior mark of 59.70, while ISM New Orders for March reflected 61.90 versus prior mark of 64.20.
Minneapolis Fed President Kashkari speaks today on monetary policy and the economy at a student town hall in Minnesota.
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The economic calendar for the first week of April kicked off today with month-over-month Construction Spending for February rising 0.10% versus previous mark of 0.00%, but falling short of estimated 0.40%. Also released today, forecast Markit U.S. Manufacturing PMI for March reached 55.60, slightly below both prior mark and estimated 55.70; while ISM Manufacturing for March reached 59.30, below survey of 59.60 and down from previous 60.80. Further, ISM Employment for March reflected 57.30 versus prior mark of 59.70, while ISM New Orders for March reflected 61.90 versus prior mark of 64.20.
Minneapolis Fed President Kashkari speaks today on monetary policy and the economy at a student town hall in Minnesota.
The curve has bear-steepened with the UST 10-Year yield up 2.5 bps from prior closing.