Treasuries are slightly higher across the curve this morning from Friday’sclose. The UST10-Year yield is currently at 2.227% after closing at 2.247% prior.
With a shortened week, our economic calendar is packed with significant data beginning with today’s prints. Personal Income and Personal Spending each rose 0.40% in April, in line with expectations as consensus called for a 0.40% increase for both income and spending prints. The March Case-Shiller 20-City Home Composite Price Index increased 0.87% MoM from an upwardly revised 0.71% price increase in February; YoY rose 5.89% in March after prices rose 5.85% YoY in February.
Later today at 10:00 AM (PT), Fed Governor Brainard will speak on the economy and monetary policy. Tomorrow we will receive the Chicago Purchasing Manager for May and the Pending home SalesMoM and YoY for April. On Thursday we will have the May ADP Employment Change, the final reading of Markit US Manufacturing PMI for May, and the Construction SpendingMoM for April. Then on Friday, we will receive the employment data and unemployment rate for the month of May.
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With a shortened week, our economic calendar is packed with significant data beginning with today’s prints. Personal Income and Personal Spending each rose 0.40% in April, in line with expectations as consensus called for a 0.40% increase for both income and spending prints. The March Case-Shiller 20-City Home Composite Price Index increased 0.87% MoM from an upwardly revised 0.71% price increase in February; YoY rose 5.89% in March after prices rose 5.85% YoY in February.
Later today at 10:00 AM (PT), Fed Governor Brainard will speak on the economy and monetary policy. Tomorrow we will receive the Chicago Purchasing Manager for May and the Pending home Sales MoM and YoY for April. On Thursday we will have the May ADP Employment Change, the final reading of Markit US Manufacturing PMI for May, and the Construction Spending MoM for April. Then on Friday, we will receive the employment data and unemployment rate for the month of May.
The curve has bull-flattened with the UST 10-Year down 2.0 bps from prior closing.