Treasuriesare moderately lower across the curve this morning as investors remain uneasy about the outcome of the French elections. The UST10-Year yield is currently at 2.234% after closing at 2.215% prior.
With only a few days left prior to Sunday's first round of the French elections, investors continue to loom over geopolitical uncertainty, causing the Treasuries to fall both yesterday and this morning. The Fed April Beige Book was released midday yesterday showing an increase in economic activity across all twelve Federal Reserve Districts from mid-February through March. Growth was defined evenly split as “modest” and “moderate”.
Today's economic calendar kicked off with the Initial Jobless Claims for the week ending in April 15th, which rose 10k to 244k from 234k last week, along with the Continuing Claims for the week ending in April 8th, which fell 49k to 1979k from 2028k the week prior, hitting the lowest level since April of 2000. We also received the U.S. April Philadelphia Fed Factory Index, which fell to 22.00 versus 32.80 prior.
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With only a few days left prior to Sunday's first round of the French elections, investors continue to loom over geopolitical uncertainty, causing the Treasuries to fall both yesterday and this morning. The Fed April Beige Book was released midday yesterday showing an increase in economic activity across all twelve Federal Reserve Districts from mid-February through March. Growth was defined evenly split as “modest” and “moderate”.
Today's economic calendar kicked off with the Initial Jobless Claims for the week ending in April 15th, which rose 10k to 244k from 234k last week, along with the Continuing Claims for the week ending in April 8th, which fell 49k to 1979k from 2028k the week prior, hitting the lowest level since April of 2000. We also received the U.S. April Philadelphia Fed Factory Index, which fell to 22.00 versus 32.80 prior.
The curve has bear-steepened with the UST 10-Year up 1.9 bps from prior closing.