Treasuries are lower across the curve this morning from yesterday’s close. The UST10-Year yield is currently at 2.386% after closing at 2.373% during the prior session.
The U.S. Trade Deficit increased in October to $48.70 Billion according to data from the Commerce Department. The level marked a nine-month high and came in against market expectations of $47.50 Billion and a revised $44.90 Billion in the prior month. We also received the Markit U.S. Services PMI print for November which registered 54.50 versus a survey of 55.20 and a prior mark of 54.70; Markit U.S. Composite PMI for November registered 54.50 versus a prior mark of 54.60. Lastly, we received the ISM Non-Manufacturing Composite for November which came in at 57.40 versus a survey of 59.00 and a prior mark of 60.10.
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