Today’s session opened with Treasuries marginally higher than yesterday. The yield on the UST10-Year is currently at 2.494% after closing at 2.498% during the prior session.
A third estimate of the annualized quarter-over-quarterGDP was published today for the third quarter. The print came in at 3.20%; slightly below estimates of 3.30% and a 3.30% prior. Also in today, Initial Jobless Claims for the week ended December 16 rose to 245k, exceeding survey of 233k and its prior 225k mark; while Continuing Claims for the week ended December 9 rose to 1932k, also exceeding survey of 1898k and a prior mark of 1889k revised. Further, a third release for the third quarter Personal Consumption reflected a 2.20% change; slightly below estimates of 2.30% and 2.30% prior. Finally, the Philadelphia Fed Business Outlook for December reached 26.20, beating survey of 21.00 and a prior mark of 22.70.
In Washington, the Republican majority is celebrating a major legislative victory with the approval in both Chambers yesterday of the tax reform bill and the President’s imminent stamp on the legislation.
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A third estimate of the annualized quarter-over-quarter GDP was published today for the third quarter. The print came in at 3.20%; slightly below estimates of 3.30% and a 3.30% prior. Also in today, Initial Jobless Claims for the week ended December 16 rose to 245k, exceeding survey of 233k and its prior 225k mark; while Continuing Claims for the week ended December 9 rose to 1932k, also exceeding survey of 1898k and a prior mark of 1889k revised. Further, a third release for the third quarter Personal Consumption reflected a 2.20% change; slightly below estimates of 2.30% and 2.30% prior. Finally, the Philadelphia Fed Business Outlook for December reached 26.20, beating survey of 21.00 and a prior mark of 22.70.
In Washington, the Republican majority is celebrating a major legislative victory with the approval in both Chambers yesterday of the tax reform bill and the President’s imminent stamp on the legislation.
The curve has bull-flattened with the UST 10-Year yield down 0.4 bp from prior closing.