The remainder of this week’s economic calendar will feature Wednesday’sADP Employment Change for May, Wholesale Inventories for April and the latest release of the Beige Book, and Thursday’sPersonal Income and Spending for April and the Pending Home Sales print for April. Then on Friday, we will receive the employment reports for the month of May. Later today at 10:00 AM (PT), U.S. will sell $40 billion 4-Week Bills.
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Treasuries are rallying across the curve this morning as investors flee to safe-haven assets due to the ongoing geopolitical turmoil. Stocks and equities are selling off, while the dollar rallies with Treasuries. This week’s economic calendar kicked off with the March Case-Shiller Home Prices which rose 0.53% month-over-month following an upwardly revised 0.84% increase prior. Case-Shiller Home Prices rose 6.79% year-over-year from a downwardly revised 6.76% increase prior. Also on deck, the May Conference Board Consumer Confidence came in line with expectations at a reading of 128.00 after a downwardly revised 125.60 reading prior.
The remainder of this week’s economic calendar will feature Wednesday’s ADP Employment Change for May, Wholesale Inventories for April and the latest release of the Beige Book, and Thursday’s Personal Income and Spending for April and the Pending Home Sales print for April. Then on Friday, we will receive the employment reports for the month of May. Later today at 10:00 AM (PT), U.S. will sell $40 billion 4-Week Bills.
The curve has bull-flattened with the UST 10-Year yield down 6.3 bps from prior closing.