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.
This information is provided solely for informational use and is not intended as trading or investment advice in any manner whatsoever. Sun West Mortgage Company, Inc. is not a licensed or registered broker or dealer and cannot provide investment strategies or recommendations. This information is provided to licensed brokers/lenders only and may not be copied or distributed to customers or potential customers. All loans are subject to approval. Certain restrictions may apply. Listed pricing is a morning indication only. Program rates, prices, guidelines, fees, costs, terms and conditions are subject to change without notice