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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