Bond yields were constant Monday ahead of 2 huge auctions and crucial financial information later on in the week.
What’s occurring
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The yield on the 2-year Treasury.
BX: TMUBMUSD02Y.
was 4.69%, up 2 points. Yields relocate the opposite instructions to rates. -
The yield on the 10-year Treasury.
BX: TMUBMUSD10Y.
was 4.24%, down 1 basis point. -
The yield on the 30-year Treasury.
BX: TMUBMUSD30Y.
was 4.37%, down 0 basis points.
What’s driving markets
There’s a $63 billion auction of two-year notes and a $64 billion auction of 5-year notes arranged for Monday.
New-home sales information is due for release, the very first sign of the week which will see the PCE rate index on Thursday and the ISM production index on Friday.
Strategists at BNP Paribas state there’s a larger threat the PCE rate index will be available in at 0.5% than 0.3%, due to the stronger-than-expected PPI information previously in the month.
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