Treasuries are lower across the curve this morning from yesterday's close. The UST10-Year yield is currently at 2.066% after closing at 2.040% prior.
Yesterday Treasuriesralliedafter the ECB announced their decision to keep their current policy unchanged noting that their economic growth has been better than expected, but the underlying inflation measures have yet to show signs of a sustained upward trend. Without much market moving economic reports to end the week, investors will continue to gauge the potential damage of Hurricane Irma, which is expected to make its landfall in Miami, FL as early as Saturday morning.
This morning's economic calendar included the Wholesale Inventories for July, which rose above expectations at 0.60% versus a 0.40% increase per consensus. The July Wholesale Trade Sales dropped 0.10% following a downwardly revised 0.60% rise prior. The July Consumer Credit report will be released later today at 12:00 PM (PT), which is expected to show $15 Billion in monthly credit growth following a $12.397 Billion growth in June.
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Yesterday Treasuries rallied after the ECB announced their decision to keep their current policy unchanged noting that their economic growth has been better than expected, but the underlying inflation measures have yet to show signs of a sustained upward trend. Without much market moving economic reports to end the week, investors will continue to gauge the potential damage of Hurricane Irma, which is expected to make its landfall in Miami, FL as early as Saturday morning.
This morning's economic calendar included the Wholesale Inventories for July, which rose above expectations at 0.60% versus a 0.40% increase per consensus. The July Wholesale Trade Sales dropped 0.10% following a downwardly revised 0.60% rise prior. The July Consumer Credit report will be released later today at 12:00 PM (PT), which is expected to show $15 Billion in monthly credit growth following a $12.397 Billion growth in June.
The curve has bear-steepened with the UST 10-Year up 2.6 bps from prior closing.
Have A Wonderful Weekend!