US stocks futures advanced in volatile trading and the dollar also climbed as investors tried to bounce back from the turmoil in American markets following the Christmas break. Treasuries, however, inched lower this morning. On the other hand, the dispute over funding for border wall is showing no sign of reaching an agreement from both sides, and many believe that it is likely to stretch into 2019. The US Treasury is scheduled to auction off $41 Billion of 5-Year notes at 10:00 AM (PT).
In the economic calendar today, S&P Corelogic Case Shiller 20 City Home Composite Price Index rose 0.41% in October vs. 0.30% estimate and 0.73% revised prior. YoY change also came in higher than expected of 4.86% at 5.03% vs. 5.21% revised prior. The post crisis rate of increases in home prices decelerated into fourth quarter of 2014 and started stabilizing after its peak in late 2013. The October’s YoY measure marked the lowest since October 2016. Richmond Fed Manufacturing Index came in much lower than consensus of 15.00 at -8.00 vs. prior 14.00.
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US stocks futures advanced in volatile trading and the dollar also climbed as investors tried to bounce back from the turmoil in American markets following the Christmas break. Treasuries, however, inched lower this morning. On the other hand, the dispute over funding for border wall is showing no sign of reaching an agreement from both sides, and many believe that it is likely to stretch into 2019. The US Treasury is scheduled to auction off $41 Billion of 5-Year notes at 10:00 AM (PT).
In the economic calendar today, S&P Corelogic Case Shiller 20 City Home Composite Price Index rose 0.41% in October vs. 0.30% estimate and 0.73% revised prior. YoY change also came in higher than expected of 4.86% at 5.03% vs. 5.21% revised prior. The post crisis rate of increases in home prices decelerated into fourth quarter of 2014 and started stabilizing after its peak in late 2013. The October’s YoY measure marked the lowest since October 2016. Richmond Fed Manufacturing Index came in much lower than consensus of 15.00 at -8.00 vs. prior 14.00.
The curve has bear-flattened with UST 10-