The U.S. Treasuries slumped during Monday’s afternoon session amid a relatively quiet day that witnessed data of little economic significance. However, a host of 2-tier and 3-tier economic data are due throughout this week, which shall add further insight into the bond market.
The yield on the benchmark 10-year Treasury yield jumped nearly 2-1/2 basis points to 1.843 percent, the super-long 30-year bond yield surged nearly 2 basis points to 2.268 percent and the yield on the short-term 2-year traded 2-1/2 basis points higher at 1.628 percent by 12:20GMT.
In the US, following the release of the Empire Manufacturing and flash Markit PMI indices today, the first of the week’s top-tier releases will come tomorrow with November’s IP data. These are expected to show that manufacturing output fully reversed the 0.6%M/M decline in October, Daiwa Capital Markets reported.
Aside from the weekly jobless claims figures, Thursday will bring balance of payments data for Q3 as well as the latest Philly Fed and Conference Board’s leading indices. Of most interest on Friday will be the monthly personal income and spending figures for November, which will include the closely watched deflators, the report added.
That day will also bring revised Q3 GDP data and University of Michigan’s consumer sentiment survey. Meanwhile, housing market indicators due include the NAHB house price index (today), housing starts (tomorrow) and existing home sales (Thursday).
In terms of Fed speak, Williams, Kaplan and Rosengren will speak publicly tomorrow, while Brainard speak at the ECB’s conference on Thursday. In the markets, the US Treasury will sell 5-year TIPS on Thursday, Daiwa further noted in the report.
Meanwhile, the S&P 500 Futures remained tad 0.40 percent up at 3,187.88 by 12:25GMT.


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