The UST10-Year yield is at 1.858% this morning after closing at 1.826% on Monday.
Rates are higher this morning as investors await the results of one of the most important presidential elections in recent history. Most polls show Hilary Clinton with a slight lead over Donald Trump. A Clinton victory represents the status quo and likely leads to a FED rate hike in December. A Trump victory introduces additional uncertainty to the market and could cause the FED to hold if equities and other asset classes sell off significantly.
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Rates are higher this morning as investors await the results of one of the most important presidential elections in recent history. Most polls show Hilary Clinton with a slight lead over Donald Trump. A Clinton victory represents the status quo and likely leads to a FED rate hike in December. A Trump victory introduces additional uncertainty to the market and could cause the FED to hold if equities and other asset classes sell off significantly.
This morning the NFIB Small Business Optimism number came in at 94.90 vs. 94.10 and later we will have JOLTS Job Openings. Wednesday has MBA mortgage applications and Wholesale Inventories. Thursday has Initial Jobless claims, Continuing claims, Bloomberg Consumer Comfort and the Monthly Budget Statement. Friday just has the University of Michigan Sentiment survey.
The curve has bear-steepened with the UST 10-Year 3.2 bps higher from prior closing.