Treasuries are marginally lower across the curve this morning from yesterday’s close. The UST10-Year yield is currently at 2.372% after closing at 2.364% during the prior session.
Nonfarm Payroll figures for November rose by 228k representing more jobs added to the economy than an expected 195k, but below its revised mark of 244k for the previous month. Unemployment Rate for November remained at 4.10%, matching both market survey and its previous monthly mark. Average Hourly Earnings for November increased by 0.20%, below a survey of 0.30% but above a revised mark of -0.10% for the preceding period.
We also received the Wholesale Inventories for October which fell 0.50% MoM versus an expected 0.40% drop per consensus. Lastly, we received the Preliminary University of Michigan Sentiment print for December which dropped to 96.80 from 98.50 prior. Attention will shift next week to the two-day FOMC meeting which will conclude on Wednesday December 13th with a possible announcement of another rate hike.
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Nonfarm Payroll figures for November rose by 228k representing more jobs added to the economy than an expected 195k, but below its revised mark of 244k for the previous month. Unemployment Rate for November remained at 4.10%, matching both market survey and its previous monthly mark. Average Hourly Earnings for November increased by 0.20%, below a survey of 0.30% but above a revised mark of -0.10% for the preceding period.
We also received the Wholesale Inventories for October which fell 0.50% MoM versus an expected 0.40% drop per consensus. Lastly, we received the Preliminary University of Michigan Sentiment print for December which dropped to 96.80 from 98.50 prior. Attention will shift next week to the two-day FOMC meeting which will conclude on Wednesday December 13th with a possible announcement of another rate hike.
The curve has bear-steepened with the UST 10-Year yield up 0.8 bp from prior closing.
Have A Lovely Weekend!