Treasury Market Outlook: bond yields are sinking
Treasury Market Outlook: bond yields are sinking as European bourses and U.S. equity futures decline. Gilt and Bund rates are down 4 bps, to lead Europe while Hong Kong's 10-year yield slid over 8 bps lower. Comments from the ECB's Stournaras, who qualified his tapering comments from last week were supportive for Bunds. The markets are awaiting this afternoon's comments from President Draghi for clarification. Italy's MIIB is underperforming, down almost 1.5%, while spreads are widening. Crude oil prices are lower in the $45 bbl area on fresh doubts over an OPEC agreement. There wasn't much overnight news, but the OECD projects Eurozone growth at 1.7% in 2017, with U.S. growth at 2.3%. Today's only U.S. data is the November Dallas Fed index. But it's a big week of data and Fedspeak ahead, culminating with the jobs report.