The UST10-Year yield is at 1.817% this morning after closing at 1.828% yesterday.
Bonds are higher this morning as investors continue to shift out of risk assets and into safer assets such as gold and the Swiss franc. The tightening US presidential election is adding volatility and uncertainty to the market. This morning MBA Mortgage Applications came in down 1.20% week over week. ADP was weak at 147K vs. 165K expected but last months number of 154K was revised to 202K. Later today, we have the FOMC rate decision but with no press conference by Chairman Yellen scheduled and no rate cut expected, this looks to be a non event.
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Bonds are higher this morning as investors continue to shift out of risk assets and into safer assets such as gold and the Swiss franc. The tightening US presidential election is adding volatility and uncertainty to the market. This morning MBA Mortgage Applications came in down 1.20% week over week. ADP was weak at 147K vs. 165K expected but last months number of 154K was revised to 202K. Later today, we have the FOMC rate decision but with no press conference by Chairman Yellen scheduled and no rate cut expected, this looks to be a non event.
Thursday has Jobless Claims, Factory Orders and Durable Goods Orders. Friday brings us the October Nonfarm Payroll Report and Trade Balance.
The curve has bull-flattened with the UST 10-Year 1.1 bps lower from prior closing.