The UST10-Year yield is at 2.243% this morning after closing at 2.223% yesterday.
Treasury yields hiked up this morning after Fed Chair Yellen signaled to the possibility that the FED is close to increasing interest rates "relatively soon if incoming data provide some further evidence of continued progress toward the committee's objectives," said Yellen this morning before the Congress's Joint Economic Committee.
In Economic Data, Housing Starts had a 25.50% increase from September to 1323K, the biggest MoM increase seen since July 1982. Building Permits had a slight increase in October to 1229K from 1225K the month prior. October's CPIMoM data came in as economist forecasted, 0.40%, and CPI Ex Food and Energy MoM was unchanged for the 4th consecutive month. Initial Jobless Claims numbers were better than expected, coming in at 235K, lowest levels since June. Continuing Claims were also better than expected at 1977K for the previous week.
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Treasury yields hiked up this morning after Fed Chair Yellen signaled to the possibility that the FED is close to increasing interest rates "relatively soon if incoming data provide some further evidence of continued progress toward the committee's objectives," said Yellen this morning before the Congress's Joint Economic Committee.
In Economic Data, Housing Starts had a 25.50% increase from September to 1323K, the biggest MoM increase seen since July 1982. Building Permits had a slight increase in October to 1229K from 1225K the month prior. October's CPI MoM data came in as economist forecasted, 0.40%, and CPI Ex Food and Energy MoM was unchanged for the 4th consecutive month. Initial Jobless Claims numbers were better than expected, coming in at 235K, lowest levels since June. Continuing Claims were also better than expected at 1977K for the previous week.
The curve has bear-steepened with the UST 10-Year 0.2 bp up from prior closing.