Treasuries are slightly higher across the curve this morning from yesterday's close. The UST10-Year yield is currently at 2.160% after closing at 2.165% prior.
This morning we received the Housing Starts print for May, which came in below expectations at 1092k versus 1220k per consensus. Housing Starts fell 5.50% in May MoM from a downwardly revised drop of 2.80% in April. The May Building Permits print also came in below expectations at 1168k versus 1249k per consensus. Building PermitsMoM dropped 4.90% in May from an unrevised 2.50% fall in April.
Later today at 9:45 AM (PT), Dallas Fed President Kaplan will speak to the Park Cities Rotary Club in Dallas in a Q&A setting.
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This morning we received the Housing Starts print for May, which came in below expectations at 1092k versus 1220k per consensus. Housing Starts fell 5.50% in May MoM from a downwardly revised drop of 2.80% in April. The May Building Permits print also came in below expectations at 1168k versus 1249k per consensus. Building Permits MoM dropped 4.90% in May from an unrevised 2.50% fall in April.
Later today at 9:45 AM (PT), Dallas Fed President Kaplan will speak to the Park Cities Rotary Club in Dallas in a Q&A setting.
The curve has bull-steepened with the UST 10-Year down 0.5 bp from prior closing.
Have A Lovely Weekend!