Treasuriesare moderately higher across the curve this morning from yesterday’s close. The UST10-Year yield is currently at 2.293% after closing at 2.319% prior.
This morning we received the September CPI data which came below expectations at 0.50% versus 0.60% per consensus. Headline prices rose 0.10% more than August’s unchanged 0.40% rise, bringing the CPIYoY up to 2.20% versus 1.90% prior. CPI Excluding Food and Energy MoM rose just 0.10% following a 0.20% rise in August; CPI Excluding Food and Energy YoY held steady at 1.70%. We also received the Retail Sales Advance for September, which rose 1.60% following a revised 0.10% drop in August. Retail Sales Excluding Auto rose 1.00% following an upwardly revised 0.50% rise prior, while Retail Sales Excluding Auto and Gas rose 0.50% following an upwardly revised 0.10% increase prior.
There are a few Fed speakers scheduled this morning including Boston Fed President Rosengren who will discuss Monetary Policy, Chicago Fed President Evans who will speak on the Economy and Monetary Policy, and Dallas Fed President Kaplan who will participate in a moderated Q&A session in Boston.
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This morning we received the September CPI data which came below expectations at 0.50% versus 0.60% per consensus. Headline prices rose 0.10% more than August’s unchanged 0.40% rise, bringing the CPI YoY up to 2.20% versus 1.90% prior. CPI Excluding Food and Energy MoM rose just 0.10% following a 0.20% rise in August; CPI Excluding Food and Energy YoY held steady at 1.70%. We also received the Retail Sales Advance for September, which rose 1.60% following a revised 0.10% drop in August. Retail Sales Excluding Auto rose 1.00% following an upwardly revised 0.50% rise prior, while Retail Sales Excluding Auto and Gas rose 0.50% following an upwardly revised 0.10% increase prior.
There are a few Fed speakers scheduled this morning including Boston Fed President Rosengren who will discuss Monetary Policy, Chicago Fed President Evans who will speak on the Economy and Monetary Policy, and Dallas Fed President Kaplan who will participate in a moderated Q&A session in Boston.
The curve has bull-flattened with the UST 10-Year down 2.8 bps from prior closing.
Have A Wonderful Weekend!