The UST10-Year yield is at 2.218% this morning after closing at 2.262% yesterday.
Treasury yields are slightly lower this morning after reaching 2.262%, the highest closing since January. The surge continues to be driven by speculations on whether the new president-elect spending plans will boost inflation and increase the size of the U.S. debt.
Economic data came in strong this morning, starting with the Empire Manufacturing Index turning positive for the first time in four months, the index was released at 1.50 vs. -6.80 prior, due to an increase in new orders and shipments in the month of October. Retail Sales continued to climb reaching a 2 month high, not seen since early 2014. Sales surged to 0.80%, a 0.20% increase from September. A 1.50% increase in internet-retail sales was a contributor as well a 1.10% rise in auto-sales. Retail Sales Ex Auto and Gas rose to 0.60% vs. 0.30% prior.
The Import Price IndexMoM in October was stronger than the expected 0.40%, coming in at 0.50% this morning from the upwardly revised 0.20% increase in September.?
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Treasury yields are slightly lower this morning after reaching 2.262%, the highest closing since January. The surge continues to be driven by speculations on whether the new president-elect spending plans will boost inflation and increase the size of the U.S. debt.
Economic data came in strong this morning, starting with the Empire Manufacturing Index turning positive for the first time in four months, the index was released at 1.50 vs. -6.80 prior, due to an increase in new orders and shipments in the month of October. Retail Sales continued to climb reaching a 2 month high, not seen since early 2014. Sales surged to 0.80%, a 0.20% increase from September. A 1.50% increase in internet-retail sales was a contributor as well a 1.10% rise in auto-sales. Retail Sales Ex Auto and Gas rose to 0.60% vs. 0.30% prior.
The Import Price Index MoM in October was stronger than the expected 0.40%, coming in at 0.50% this morning from the upwardly revised 0.20% increase in September.?
The curve has bull-flattened with the UST 10-Year 4.4 bps down from prior closing.