Treasury Market Outlook: Treasuries are little changed
Treasury Market Outlook: Treasuries are little changed, in contrast to European and Asian sovereigns which are posting small gains. Curves are unchanged to a tad flatter as longer maturities overseas outperform. The 10-year Treasury yield has edged up to 1.745% versus 1.734%, while the JGB closed slightly lower at -0.067%, while the Gilt is 1.5 bps lower at 1.064%, with the Bund at 0.022%. Equities are mixed and are shedding earlier losses. Chinese Q3 GDP met expectations with a 6.7% rate of growth. JPY firmed slight on a Kyodo News report that the BoJ will not ease next month, according to unnamed sources. Morgan Stanley had a solid beat on the bottom line. There's not much on today's U.S. calendar, and the data won't provide much new directional information. September housing starts feature, along with the Beige Book for the November 1-2 FOMC meeting. Weekly oil inventories are due. The MBA reported a 0.6% increase in mortgage applications for the week ended October 14. There's Fedspeak from Kaplan and Dudley. The earnings calendar features Abbott Labs, American Express, Canadian Pacific Railway, eBay, FMC Technologies, Halliburton, Kinder Morgan, Mattel, Northern Trust, Reynolds American, United Rentals, and Xilinx.