Treasuries are nearly unchanged across the curve this morning from Friday'sclose. The UST10-Year yield is currently at 2.250% after closing at 2.251% prior.
This week's calendar kicked off with the Chicago Fed National Activity Index which fell more than expected from a revised 0.03 increase in July to a drop of 0.31 in August; consensus called for a 0.25 drop. Dallas Fed Manufacturing Index for September which was expected to drop to 11.50 came in at 21.30 versus 17.00 prior. There are three scheduled Fed speakers today including FedDudley at 5:30 AM (PT) on Workforce Development, FedEvans at 9:40 AM (PT) on Economy and Monetary Policy, and FedKashkari at 3:30 PM (PT) in a Q&A session.
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This week's calendar kicked off with the Chicago Fed National Activity Index which fell more than expected from a revised 0.03 increase in July to a drop of 0.31 in August; consensus called for a 0.25 drop. Dallas Fed Manufacturing Index for September which was expected to drop to 11.50 came in at 21.30 versus 17.00 prior. There are three scheduled Fed speakers today including Fed Dudley at 5:30 AM (PT) on Workforce Development, Fed Evans at 9:40 AM (PT) on Economy and Monetary Policy, and Fed Kashkari at 3:30 PM (PT) in a Q&A session.
The remainder of the week will be heavy on Fed speakers including Fed Mester, Fed Brainard and Fed Chairwoman Yellen on Tuesday, Fed Bullard, Fed Brainard and Fed Rosengren on Wednesday, Fed George on Thursday, and Fed Harker on Friday. On the economic calendar, we will receive the August New Home Sales on Tuesday, the August Durable Goods Orders on Wednesday, the August Wholesale Inventories on Thursday, and Personal Income and Spending for August along with the PCE inflation report on Friday.
The curve has flattened with the UST 10-Year down 0.10 bp from prior closing.