Treasury Market Outlook: the markets are mixed in choppy trading
Treasury Market Outlook: the markets are mixed in choppy trading. Treasury yields have trended higher with the 10-year rate at 2.33% from 2.30%. European sovereigns rallied overnight, especially peripherals (centering on Italy on rumors that Renzi might resign), but yields have edged off of their lows with the Bund at 0.199% from 0.18%. The JGB rate finished fractionally lower at 0.005%. Stocks are mixed too with Japan's Nikkei in the red, while core European bourses are higher, as are U.S. equity futures. Oil prices are lower, back in the low $46 bbl area. It's a busy U.S. slate today with revised Q3 GDP, the September Case-Shiller home price index, and November consumer confidence. For Fedspeak there is Dudley and Powell. The earnings calendar features reports from Autodesk, Bank of Nova Scotia, Mallinckrodt, Splunk, and Tiffany & Co.