Today’s session opened with Treasuries lower than yesterday. The yield on the UST10-Year is currently at 2.365% after closing at 2.350% during the prior session.
The economic calendar for the week concludes today with prints for manufacturing survey, industrial production, manufacturing production and capacity utilization. The Empire Manufacturing Survey for December dropped to 18.00 from 19.40 prior, slightly short of an estimated 18.70. Month-over-month Industrial Production for November increased 0.20%, falling short of the expected 0.30% and below its previous revised mark of 1.20%. Month-over-month Manufacturing Production for November also increased 0.20%, falling short of the expected 0.30% and below its previous revised mark of 1.40%. Finally, Capacity Utilization for November rose to 77.10% from 77.00% prior, but fell slightly below survey of 77.20%.
Congressional Republicans are scheduled to unveil today the legislative-majority agreed language for the tax overhaul bill as a result of the conference committee between Senate and House negotiators. The political sight is still set on turning the bill into law before year end.
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The economic calendar for the week concludes today with prints for manufacturing survey, industrial production, manufacturing production and capacity utilization. The Empire Manufacturing Survey for December dropped to 18.00 from 19.40 prior, slightly short of an estimated 18.70. Month-over-month Industrial Production for November increased 0.20%, falling short of the expected 0.30% and below its previous revised mark of 1.20%. Month-over-month Manufacturing Production for November also increased 0.20%, falling short of the expected 0.30% and below its previous revised mark of 1.40%. Finally, Capacity Utilization for November rose to 77.10% from 77.00% prior, but fell slightly below survey of 77.20%.
Congressional Republicans are scheduled to unveil today the legislative-majority agreed language for the tax overhaul bill as a result of the conference committee between Senate and House negotiators. The political sight is still set on turning the bill into law before year end.
The curve has bear-flattened with the UST 10-Year yield up 1.5 bps from prior closing.
Have A Nice Weekend!