Treasuriesare moderately lower across the curve this morning from Friday’s close. The UST10-Year yield is currently at 2.302% after closing at 2.274% prior.
This week’s economic calendar kicks off quietly with just the October Empire Manufacturing on deck today. The New York Fed’s Empire Survey came in well above expectations at 30.20 versus 20.40 per consensus as the survey showed strong manufacturing activity in the beginning of the fourth quarter on stronger shipments and number of employees.
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This week’s economic calendar kicks off quietly with just the October Empire Manufacturing on deck today. The New York Fed’s Empire Survey came in well above expectations at 30.20 versus 20.40 per consensus as the survey showed strong manufacturing activity in the beginning of the fourth quarter on stronger shipments and number of employees.
The remainder of the week will consist of a handful of housing reports beginning with Tuesday’s NAHB Housing Market Index. On Wednesday, we will receive the Housing Starts and Building Permits for the month of September. On Thursday we will have the Philadelphia Fed Business Outlook for October, and then on Friday we will have the Existing home Sales for the month of September.
The curve has bear-steepened with the UST 10-Year up 2.8 bps from prior closing.