Treasuries are lower than yesterday at the opening of today’s session. The yield on the UST10-Year is currently at 2.837% after closing at 2.828% during the prior session.
Treasuries continue under pressure for a second day at the opening of the session as risk assets come back from last week’s sell-off, fueled by strong corporate earnings in Wall Street.
Housing Starts during March reached 1319k, exceeding an estimated 1267k and rising from prior mark of 1295k revised. Month-over-monthHousing Starts for March reflected a 1.90% change, below estimated 2.50% but up from its prior mark of -3.30% revised. Also in today, Building Permits during March reached 1354k, above both survey and prior mark of 1321k revised; while month-over-monthBuilding Permits during March reflected a 2.50% change, also exceeding survey of 0.00% and rising from previous revised mark of -4.10%. Finally, Manufacturing Production figures for March came in at 0.10%, in line with market estimates but down from previous revised mark of 1.50%; while Capacity Utilization during the same period registered 78.00%, marginally beating survey of 77.90% and modestly rising from its previous mark of 77.70% revised.
Featured Fed speakers for today include San Francisco’s Williams, who will speak at the Bank of Spain in Madrid; Vice Chairman Quarles, who will testify before the Financial Services Committee of the House of Representatives; Philadelphia’s Harker, who will speak on the economics of equitable education in Philadelphia; Chicago’s Evans, who will discuss current conditions and economic policy in Chicago; and Atlanta’s Bostic, who will speak at a seminar on Bloomberg.
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Treasuries continue under pressure for a second day at the opening of the session as risk assets come back from last week’s sell-off, fueled by strong corporate earnings in Wall Street.
Housing Starts during March reached 1319k, exceeding an estimated 1267k and rising from prior mark of 1295k revised. Month-over-month Housing Starts for March reflected a 1.90% change, below estimated 2.50% but up from its prior mark of -3.30% revised. Also in today, Building Permits during March reached 1354k, above both survey and prior mark of 1321k revised; while month-over-month Building Permits during March reflected a 2.50% change, also exceeding survey of 0.00% and rising from previous revised mark of -4.10%. Finally, Manufacturing Production figures for March came in at 0.10%, in line with market estimates but down from previous revised mark of 1.50%; while Capacity Utilization during the same period registered 78.00%, marginally beating survey of 77.90% and modestly rising from its previous mark of 77.70% revised.
Featured Fed speakers for today include San Francisco’s Williams, who will speak at the Bank of Spain in Madrid; Vice Chairman Quarles, who will testify before the Financial Services Committee of the House of Representatives; Philadelphia’s Harker, who will speak on the economics of equitable education in Philadelphia; Chicago’s Evans, who will discuss current conditions and economic policy in Chicago; and Atlanta’s Bostic, who will speak at a seminar on Bloomberg.
The curve has bear-flattened with the UST 10-Year yield up 0.9 bp from prior closing.