The UST10-Year yield is at 2.419% this morning after closing at 2.414% yesterday.
This morning, U.S. Treasury yields opened higher following the Euro-zone bondmarkets, where the curve spreads surged as a result of yesterdays’ announcement. The European Central Bank said it would not only scale back the bond-buying program from the original 80 Billion to 60 Billion Euros monthly, but would extend the program through December 2017. As result, the euro had the biggest drop against the dollar since June.
OPEC will have a meeting today with 9 other non-members in Vienna to discuss the proposed cuts in oil output. OPEC currently produces 1/3 of global oil and has pledged to reduce output by 1.20 Million bpd starting January 2017. If agreed, this will remove 2.00% of the world’s oil supply.
In economic releases, Wholesale Inventories Index was released as expected at -0.40%. Consumer Sentiment increased in the month of December according to the U. of Mich. Sentiment Survey; it was released better than expected at 98.00, the highest since January 2015.
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This morning, U.S. Treasury yields opened higher following the Euro-zone bond markets, where the curve spreads surged as a result of yesterdays’ announcement. The European Central Bank said it would not only scale back the bond-buying program from the original 80 Billion to 60 Billion Euros monthly, but would extend the program through December 2017. As result, the euro had the biggest drop against the dollar since June.
OPEC will have a meeting today with 9 other non-members in Vienna to discuss the proposed cuts in oil output. OPEC currently produces 1/3 of global oil and has pledged to reduce output by 1.20 Million bpd starting January 2017. If agreed, this will remove 2.00% of the world’s oil supply.
In economic releases, Wholesale Inventories Index was released as expected at -0.40%. Consumer Sentiment increased in the month of December according to the U. of Mich. Sentiment Survey; it was released better than expected at 98.00, the highest since January 2015.
The curve has bear-steepened with the UST 10-Year 0.5 bp up from prior closing.
Have A Wonderful Weekend!