Treasuries are slightly higher across the curve this morning from yesterday's close. The UST10-Year yield is currently at 2.250% after closing at 2.268% prior.
Yesterday treasuriessold off at the conclusion of the FOMC meeting as the Feds announced their plan to begin the normalization of the balance sheet in October and sounded rather hawkish about another rate hike later this year. The Official Statement consisted of minor changes to its previous language in assessing current economic activity and monetary policy while acknowledging better business investment. The Committee also reiterated their belief that inflation would return to their target 2.00% over the medium term.
This morning we received the Initial Jobless Claims for the week ending on September 16th which fell to 259k from a downwardly revised 282k the week prior. Continuing Claims for the week ending on September 9th rose to 1980k from a downwardly revised 1936k the week prior. According to the Department of Labor, claims were affected by both Hurricane Harvey and Hurricane Irma. We also received the FHFA House Price Index for July which rose below expectations at 0.20% versus 0.40% per consensus; Home Price Index rose just 0.10% in June.
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Yesterday treasuries sold off at the conclusion of the FOMC meeting as the Feds announced their plan to begin the normalization of the balance sheet in October and sounded rather hawkish about another rate hike later this year. The Official Statement consisted of minor changes to its previous language in assessing current economic activity and monetary policy while acknowledging better business investment. The Committee also reiterated their belief that inflation would return to their target 2.00% over the medium term.
This morning we received the Initial Jobless Claims for the week ending on September 16th which fell to 259k from a downwardly revised 282k the week prior. Continuing Claims for the week ending on September 9th rose to 1980k from a downwardly revised 1936k the week prior. According to the Department of Labor, claims were affected by both Hurricane Harvey and Hurricane Irma. We also received the FHFA House Price Index for July which rose below expectations at 0.20% versus 0.40% per consensus; Home Price Index rose just 0.10% in June.
The curve has bull-flattened with the UST 10-Year down 1.8 bps from prior closing.