Treasuries are lower across the curve this morning from Friday'sclose. The UST10-Year yield is currently at 2.985% after closing at 2.955% prior.
Treasuriesfell overnight and into the open to begin the week ahead of a busy economic calendar and central bank policy decisions. Central banks are likely to dominate most of this week's headlines as Japan, the U.K., Brazil, India and the U.S. are all scheduled to meet and announce their latest monetary policy paths and decisions. Investors are expecting the BOJ to announce a tweak to its yield-curve control policy, while the Bank of England is expected to announce a rate hike. Meanwhile, the Feds are not expected to announce another rate hike at the conclusion of its meeting on Wednesday, but investors will be focused on the Feds' confidence level on inflation.
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Treasuries fell overnight and into the open to begin the week ahead of a busy economic calendar and central bank policy decisions. Central banks are likely to dominate most of this week's headlines as Japan, the U.K., Brazil, India and the U.S. are all scheduled to meet and announce their latest monetary policy paths and decisions. Investors are expecting the BOJ to announce a tweak to its yield-curve control policy, while the Bank of England is expected to announce a rate hike. Meanwhile, the Feds are not expected to announce another rate hike at the conclusion of its meeting on Wednesday, but investors will be focused on the Feds' confidence level on inflation.
This week's economic calendar kicked off with the June Pending Home Sales which rose 0.90% month-over-month following a 0.50% drop prior. The remainder of this week's calendar consists of Tuesday's PCE Inflation, Personal Income and Personal Spending for June and Wednesday's Construction Spending and ISM reports for June. Then on Thursday, we will receive the June Factory Orders, Durable Goods Orders and Capital Goods reports. Finally, we will have the employment reports for the month of July available on Friday to conclude the week.
The curve has bear-steepened with the UST 10-Year yield up 3.0 bps from prior closing.