Today’s session opened with Treasuries lower than yesterday. The yield on the UST10-Year is currently at 2.427% after closing at 2.395% during the prior session.
Housing Starts during November increased to 1297k, surpassing market survey of 1250k and its prior mark of 1256k revised; while month-over-monthHousing Starts for November increased by 3.30%, higher than the estimated -3.10% but falling below its prior mark of 8.40% revised. Building Permits during November registered 1298k, surpassing market survey of 1270k but below its prior mark of 1316k revised; while month-over-monthBuilding Permits for November registered a -1.40% change, better than the estimated -3.50% but falling below its prior mark of 7.40% revised. Finally, the Current Account Balance for the 3Q registered a deficit of $100.60 Billion, lower than an expected figure of $116.20 Billion deficit and below its revised previous reading of $124.40 Billion deficit.
House Republicans are scheduled to hold a vote today in the early afternoon on tax reform after a floor debate takes place in the morning. The approved bill would then be considered in the Senate.
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Housing Starts during November increased to 1297k, surpassing market survey of 1250k and its prior mark of 1256k revised; while month-over-month Housing Starts for November increased by 3.30%, higher than the estimated -3.10% but falling below its prior mark of 8.40% revised. Building Permits during November registered 1298k, surpassing market survey of 1270k but below its prior mark of 1316k revised; while month-over-month Building Permits for November registered a -1.40% change, better than the estimated -3.50% but falling below its prior mark of 7.40% revised. Finally, the Current Account Balance for the 3Q registered a deficit of $100.60 Billion, lower than an expected figure of $116.20 Billion deficit and below its revised previous reading of $124.40 Billion deficit.
House Republicans are scheduled to hold a vote today in the early afternoon on tax reform after a floor debate takes place in the morning. The approved bill would then be considered in the Senate.
The curve has bear-steepened with the UST 10-Year yield up 3.2 bps from prior closing.