Treasuries are moderately lower across the curve following the release of the goods and services deficit, which reported at $43.60 Billion in February, down $4.60 Billion from $48.20 Billion in January (revised). The UST10-Year yield is currently at 2.335% after closing at 2.319% prior.
Yesterday treasuriesrallied as the markets reacted strongly to solid economic data releases in the morning. Some of those gains have been erased after the Trade Balance showed an improvement for the month of February, reporting $1 Billion lower than the expected $44.60 Billion deficit, which should help boost 1Q GDP forecasts. The February Factory Goods Orders increased by 1.00% as expected in February after rising 1.20% prior. The final February Durable Goods Orders rose 1.80% versus a 1.70% rise prior.
For the remainder of the week, investors will be focused on the release of the FOMC minutes on Wednesday, and also on the release of the jobs report for the month of March on Friday.
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Yesterday treasuries rallied as the markets reacted strongly to solid economic data releases in the morning. Some of those gains have been erased after the Trade Balance showed an improvement for the month of February, reporting $1 Billion lower than the expected $44.60 Billion deficit, which should help boost 1Q GDP forecasts. The February Factory Goods Orders increased by 1.00% as expected in February after rising 1.20% prior. The final February Durable Goods Orders rose 1.80% versus a 1.70% rise prior.
For the remainder of the week, investors will be focused on the release of the FOMC minutes on Wednesday, and also on the release of the jobs report for the month of March on Friday.
The curve has bear-steepened with the UST 10-Year up 1.6 bps from prior closing.