Treasuries are lower across the curve this morning from yesterday’s close. The UST10-Year yield is currently at 2.404% after closing at 2.389% during the prior session.
The economic calendar for this week continued this morning with the November prints for the Producer Price Index (PPI) Final Demand month-over-month and the Producer Price Index (PPI) Final Demand year-over-year. PPImonth-over-month increased by 0.40%, in line with its previous mark and slightly above an estimated 0.30% change; while PPIyear-over-year increased by 3.10%, above a 2.90% survey and its 2.80% previous mark. Also in today, PPI Less Food and Energy year-over-yearfor November reflected a 2.40% increase, in line with estimates for the month and its previous mark. Finally, Small Business Optimism rose to 107.50 in November, above expectations of 104.00 and a previous mark of 103.80, registering its highest monthly level in 34 years.
The calendar for the rest of the week continues with Inflation readings and Mortgage Applications tomorrow, Initial and Continuing Jobless Claims on Thursday and Industrial Production on Friday. Meanwhile, the FOMC will announce their decision tomorrow on any potential increases in short-term interest rates.
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The economic calendar for this week continued this morning with the November prints for the Producer Price Index (PPI) Final Demand month-over-month and the Producer Price Index (PPI) Final Demand year-over-year. PPI month-over-month increased by 0.40%, in line with its previous mark and slightly above an estimated 0.30% change; while PPI year-over-year increased by 3.10%, above a 2.90% survey and its 2.80% previous mark. Also in today, PPI Less Food and Energy year-over-year for November reflected a 2.40% increase, in line with estimates for the month and its previous mark. Finally, Small Business Optimism rose to 107.50 in November, above expectations of 104.00 and a previous mark of 103.80, registering its highest monthly level in 34 years.
The calendar for the rest of the week continues with Inflation readings and Mortgage Applications tomorrow, Initial and Continuing Jobless Claims on Thursday and Industrial Production on Friday. Meanwhile, the FOMC will announce their decision tomorrow on any potential increases in short-term interest rates.
The curve has bear-flattened with the UST 10-Year yield up 1.5 bps from prior closing.