Treasuries are slightly higher across the curve this morning from yesterday's close. The UST10-Year yield is currently at 2.339% after closing at 2.342% prior.
This morning the market shifted its focus back on President Trump's tax reform in which investors are assessing the prospects of the proposed tax cuts after concerns were raised that it could balloon the deficit. The concerns over the tax reform stalled the U.S. Equities and Dollar gains, while treasury yields inched lower.
Today we have a quiet economic calendar with only the September's vehicle sales report on the schedule. The Wards Total Vehicles Sales is expected to rebound and increase to 17.15 Million from a disappointing 16.03 Million in August due to Hurricane Harvey. The Wards Domestic Vehicle Sales is also expected to increase upwardly to 13.00 Million from 12.48 Million prior. In Fedspeak, Fed Governor Powell will speak this morning on regulatory reform at a Reuters Conversation on U.S. Financial Regulation event in Washington.
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This morning the market shifted its focus back on President Trump's tax reform in which investors are assessing the prospects of the proposed tax cuts after concerns were raised that it could balloon the deficit. The concerns over the tax reform stalled the U.S. Equities and Dollar gains, while treasury yields inched lower.
Today we have a quiet economic calendar with only the September's vehicle sales report on the schedule. The Wards Total Vehicles Sales is expected to rebound and increase to 17.15 Million from a disappointing 16.03 Million in August due to Hurricane Harvey. The Wards Domestic Vehicle Sales is also expected to increase upwardly to 13.00 Million from 12.48 Million prior. In Fedspeak, Fed Governor Powell will speak this morning on regulatory reform at a Reuters Conversation on U.S. Financial Regulation event in Washington.
The curve has bull-steepened with the UST 10-Year down 0.3 bp from prior closing.