The UST10-Year yield is at 2.553% this morning after closing at 2.592% on Friday.
Treasury yields are lower this morning as investors await Federal Reserve Chairwoman Yellen's speech later today at 10:30 AM (PT) at the University of Baltimore, just less than a week since the Feds raised interest rates and signaled a steeper path for rate hikes in 2017.
Today's economic calendar is very light, with Markit US Services PMI coming in lower than expected at 53.40 versus 55.20 consensus, and Markit US Composite PMI coming in at 53.70 versus 54.90 prior.
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Treasury yields are lower this morning as investors await Federal Reserve Chairwoman Yellen's speech later today at 10:30 AM (PT) at the University of Baltimore, just less than a week since the Feds raised interest rates and signaled a steeper path for rate hikes in 2017.
Today's economic calendar is very light, with Markit US Services PMI coming in lower than expected at 53.40 versus 55.20 consensus, and Markit US Composite PMI coming in at 53.70 versus 54.90 prior.
Heavier economic data will come later this week including reports on Existing Home Sales and MBA Mortgage Applications on Wednesday, Personal Income, Personal Consumption, Durable Goods Orders, and the final revision to 3Q GDP on Thursday, and New Home Sales and the University of Michigan Sentiment on Friday.
The curve has bull-flattened with the UST 10-Year down 3.9 bps from prior closing.