Treasuriesare slightly lower across the curve this morning from yesterday's close. The UST10-Year yield is currently at 2.371% after closing at 2.369% during the prior session.
Today's session opened with mild expectations that the FOMC is likely to announce a continuance in gradual but steady rate hikes in the near future; and the markets coupling with the potential repercussions of further indictments associated with the Russian election-meddling investigation.
In economic news, several economic indicators delivered results today, including the 3Q employment cost index, reflecting 0.70% growth in line with market expectations; the Chicago purchasing managers index, reflecting 66.20 points versus a 60.00 consensus for October; and the S&P CoreLogic Case-Schiller home price index, showing a 0.45% rise for August versus an expected 0.40%.
Further, the week continues with the FOMC decision on short term interest rates tomorrow; and several Fed governors scheduled to speak on the economy on Thursday and Friday. The week is expected to end with an announcement of the next Fed chair.
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Today's session opened with mild expectations that the FOMC is likely to announce a continuance in gradual but steady rate hikes in the near future; and the markets coupling with the potential repercussions of further indictments associated with the Russian election-meddling investigation.
In economic news, several economic indicators delivered results today, including the 3Q employment cost index, reflecting 0.70% growth in line with market expectations; the Chicago purchasing managers index, reflecting 66.20 points versus a 60.00 consensus for October; and the S&P CoreLogic Case-Schiller home price index, showing a 0.45% rise for August versus an expected 0.40%.
Further, the week continues with the FOMC decision on short term interest rates tomorrow; and several Fed governors scheduled to speak on the economy on Thursday and Friday. The week is expected to end with an announcement of the next Fed chair.
The curve has bear-flattened as the UST 10-Year yield modestly picked up 0.2 bp from prior closing.