Market opened today’s session with treasuries inching higher across all maturities. 10-Yeartreasury yield is at 2.4884, 1.25 bps decreased from prior closing of 2.5009.
US stock futures drifted after a strong performance during Monday’s session. In corporate news, Walgreens shares tumbled after the company reported quarterly earnings and revenue which missed expectations, and lowered its 2019 forecast. Treasuries rose this morning and the pound weakened after members of Parliament failed again yesterday to reach a consensus on Brexit. With only 10 days remaining, UK Prime Minister May will hold five hours of crisis talks with her cabinet today where ministers will reportedly weigh postponing the date for leaving the EU to allow more time to resolve the stalemate in Parliament. The US and China are set to resume their talks when Chinese Vice Preimer Liu He lands in Washington later this week. Elsewhere, WTI crude continued to display demands as it traded slightly below $62 a barrel this morning.
The headline Durable Goods Orders in February fell 1.60% from downwardly revised prior of 0.10% increase vs. 1.80% decline consensus. The core, however, came in line with estimate of 0.10% increase vs. -0.10% upwardly revised prior. Lastly, Capital Goods Orders missed its expectation of 0.10% as it fell to -0.10% from 0.90% revised prior. On Friday, the highly anticipated Nonfarm Payrolls data for March will be released.
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US stock futures drifted after a strong performance during Monday’s session. In corporate news, Walgreens shares tumbled after the company reported quarterly earnings and revenue which missed expectations, and lowered its 2019 forecast. Treasuries rose this morning and the pound weakened after members of Parliament failed again yesterday to reach a consensus on Brexit. With only 10 days remaining, UK Prime Minister May will hold five hours of crisis talks with her cabinet today where ministers will reportedly weigh postponing the date for leaving the EU to allow more time to resolve the stalemate in Parliament. The US and China are set to resume their talks when Chinese Vice Preimer Liu He lands in Washington later this week. Elsewhere, WTI crude continued to display demands as it traded slightly below $62 a barrel this morning.
The headline Durable Goods Orders in February fell 1.60% from downwardly revised prior of 0.10% increase vs. 1.80% decline consensus. The core, however, came in line with estimate of 0.10% increase vs. -0.10% upwardly revised prior. Lastly, Capital Goods Orders missed its expectation of 0.10% as it fell to -0.10% from 0.90% revised prior. On Friday, the highly anticipated Nonfarm Payrolls data for March will be released.
The curve has bull-steepened with UST 10-Year yield down 1.25 bps.