Treasuries are moderately lower across the curve this morning from Friday'sclose.? The UST10-Year yield is currently at 2.217% after closing at 2.190% prior.
This week's economic calendar begins without any data releases for today, but it will include several key economic reports throughout the week. Tomorrow we will receive the July Retail Sales report, which is expected to show an increase in consumer spending. CoreRetail Sales have been weaker than expected the last few months, but is expected to make a jump in July. On Wednesday, we will receive the Housing Starts for July, which is expected to rise from June. The FOMC Meeting Minutes will also be available tomorrow, which is expected to show that the balance sheet normalization will be announced at the Fed's next meeting in September.
Economic reports will be slower on Thursday and Friday; Thursday we will have the Philadelphia Fed Business Outlook and the Industrial Production MoM and Friday we will have the University of Michigan Sentiment. However, Dallas Fed President Kaplan will speak both Thursday and Friday with the Lubbock Chamber of Commerce and the Dallas County Community College District Conference day.
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This week's economic calendar begins without any data releases for today, but it will include several key economic reports throughout the week. Tomorrow we will receive the July Retail Sales report, which is expected to show an increase in consumer spending. Core Retail Sales have been weaker than expected the last few months, but is expected to make a jump in July. On Wednesday, we will receive the Housing Starts for July, which is expected to rise from June. The FOMC Meeting Minutes will also be available tomorrow, which is expected to show that the balance sheet normalization will be announced at the Fed's next meeting in September.
Economic reports will be slower on Thursday and Friday; Thursday we will have the Philadelphia Fed Business Outlook and the Industrial Production MoM and Friday we will have the University of Michigan Sentiment. However, Dallas Fed President Kaplan will speak both Thursday and Friday with the Lubbock Chamber of Commerce and the Dallas County Community College District Conference day.
The curve has bear-steepened with the UST 10-Year up 2.7 bps from prior closing.