Treasuriesare slightly lower across the curve this morning from yesterday’s close. The UST10-Year yield is currently at 2.314% after closing at 2.304% prior.
Yesterday treasury yields rose as investors digested comments from Fed officials, including Fed Chairwoman Yellen, that rate hikes were likely to continue at a gradual pace. This morning, treasury yields inched slightly higher upon the release of September’s Import Price Index, which came in firmer than expected, showing an increase of 0.70% versus 0.60% per consensus. September’s Export Price Index also came in stronger than expected, rising 0.80% in September versus an expected 0.50% increase per consensus.
We also received the Industrial Production print for September which came in line with expectations rising 0.30% following a revised 0.70% drop in August. Also on the calendar, we received the Capacity Utilization data for September, which rose to 76.00% from a downwardly revised 75.80% prior. Later today at 1:00 PM (PT), we will receive the August Total Net TIC Flows and Net Long-term TIC Flows.
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Yesterday treasury yields rose as investors digested comments from Fed officials, including Fed Chairwoman Yellen, that rate hikes were likely to continue at a gradual pace. This morning, treasury yields inched slightly higher upon the release of September’s Import Price Index, which came in firmer than expected, showing an increase of 0.70% versus 0.60% per consensus. September’s Export Price Index also came in stronger than expected, rising 0.80% in September versus an expected 0.50% increase per consensus.
We also received the Industrial Production print for September which came in line with expectations rising 0.30% following a revised 0.70% drop in August. Also on the calendar, we received the Capacity Utilization data for September, which rose to 76.00% from a downwardly revised 75.80% prior. Later today at 1:00 PM (PT), we will receive the August Total Net TIC Flows and Net Long-term TIC Flows.
The curve has bear-flattened with the UST 10-Year up 1.0 bp from prior closing.