Treasuries are lower across the curve this morning. The UST10-Year yield is currently at 2.403% after closing at 2.388% prior.
Today we have another quiet economic calendar, beginning with the April NFIB Small Business Optimism, which dipped to 104.50 from 104.70 in March versus an expected 104.00 per consensus. March Wholesale InventoriesMoM came in above expectations at 0.20% versus -0.10% consensus, jumping from -0.10% prior.
Later today, FedRosensgren is scheduled to speak at 10:00 AM (PT) on Risk Management; FedKaplan is also on deck to speak at 1:15 PM (PT). Also at 10:00 AM (PT), Treasury will auction $24 Billion of new 3-Year notes. Tomorrow we will receive the April Import Price IndexMoM along with the Monthly Budget Statement for the month of April. On Thursday, we will receive April’s PPI Final Demand and PPI Ex Food and Energy data. Then on Friday, the April Retail Sales and April CPI will be released.
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Today we have another quiet economic calendar, beginning with the April NFIB Small Business Optimism, which dipped to 104.50 from 104.70 in March versus an expected 104.00 per consensus. March Wholesale Inventories MoM came in above expectations at 0.20% versus -0.10% consensus, jumping from -0.10% prior.
Later today, Fed Rosensgren is scheduled to speak at 10:00 AM (PT) on Risk Management; Fed Kaplan is also on deck to speak at 1:15 PM (PT). Also at 10:00 AM (PT), Treasury will auction $24 Billion of new 3-Year notes. Tomorrow we will receive the April Import Price Index MoM along with the Monthly Budget Statement for the month of April. On Thursday, we will receive April’s PPI Final Demand and PPI Ex Food and Energy data. Then on Friday, the April Retail Sales and April CPI will be released.
The curve has bear-steepened with the UST 10-Year up 1.5 bps from prior closing.