Both treasuries and US equity futures inched higher today as investors weighed the latest trade developments between the US and China. Stocks fluctuated early during the overnight session but gained traction following the news that Chinese importers resumed buying US soybeans. China also confirmed their willingness to negotiate details of the deal but Trump administration officials said yesterday that Beijing would have to do more to end the tariff war. Treasuries and the US dollar also gained this morning as US Jobless Claims came in lower than consensus. The US Treasury is scheduled to auction off $16 Billion of 30 Yearbonds at 10:00 AM (PT) today. The WTI crude slipped below $51 a barrel.
In the economic calendar today, Import Price Index for November declined 1.60% vs. prior of 0.50% increase due to dollar strengthening. Initial Jobless Claims came in lower than expected at 206K vs. 226K consensus and vs. 233K prior revised although California, Pennsylvania, and New York saw some noticeable increases in their claims. On the contrary, Continuing Claims printed higher at 1661K than 1649k consensus and 1636K prior revised. Lastly, Bloomberg Consumer Comfort came in at 59.40 vs. 60.30 prior.
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Both treasuries and US equity futures inched higher today as investors weighed the latest trade developments between the US and China. Stocks fluctuated early during the overnight session but gained traction following the news that Chinese importers resumed buying US soybeans. China also confirmed their willingness to negotiate details of the deal but Trump administration officials said yesterday that Beijing would have to do more to end the tariff war. Treasuries and the US dollar also gained this morning as US Jobless Claims came in lower than consensus. The US Treasury is scheduled to auction off $16 Billion of 30 Year bonds at 10:00 AM (PT) today. The WTI crude slipped below $51 a barrel.
In the economic calendar today, Import Price Index for November declined 1.60% vs. prior of 0.50% increase due to dollar strengthening. Initial Jobless Claims came in lower than expected at 206K vs. 226K consensus and vs. 233K prior revised although California, Pennsylvania, and New York saw some noticeable increases in their claims. On the contrary, Continuing Claims printed higher at 1661K than 1649k consensus and 1636K prior revised. Lastly, Bloomberg Consumer Comfort came in at 59.40 vs. 60.30 prior.
The curve has bull-steepened with UST 10-