Treasury Market Outlook: Treasuries are little changed
Treasury Market Outlook: Treasuries are little changed, having pared earlier losses, while European bonds are weaker but off their worst levels. Global equities are mostly in the red, paced by declines in China, though Japan's Nikkei bucked the trend and closed slightly higher after a droop in JPY. The yield on the 10-year Treasury note has dipped back to 1.79% after hitting 1.81% earlier, and was as low as 1.78% in Asian action. The UK Gilt continues its underperformance with the yield up over 5 bps to 1.15%, having peaked earlier at 1.22%, amid further declines in GBP. There wasn't much data overnight. Japanese production disappointed with a 1.3% gain. The final read on Eurozone CPI came in at 0.4%. The Fed's Rosengren reiterated his desire for a hike. This week's U.S. slate has several important reports, with today's September industrial production and capacity utilization featuring today, along with the October Empire State index. The earnings calendar picks up this week today. Bank of America just announced a slight beat. Celanese Corp., Equity Lifestyle, Hasbro, IDEX Corp., IBM, J.B. Hunt Transport, Lennox International, Netflix, and United Continental are also due today.