Treasury Market Outlook: Treasuries are fractionally in the green
Treasury Market Outlook: Treasuries are fractionally in the green after erasing overnight declines. Stronger than expected data weighed as equities were boosted. The 10-year Treasury yield has dipped to 2.285% after testing 2.30%. EGB yields are mixed with core markets underperforming. Stocks were generally higher in Asia, though a stronger JPY left the Nikkei in the red. European bourses are posting small gains as German retail sales beat expectations, Eurozone unemployment rate fell to 9.1% and a surprise unptick in core inflation supported but rekindled tapering worries. Geopolitics, earnings, economic data and the generally dovish stance from major central banks will all be in play through the busy week. Data slate kicks off today with the July Chicago PMI, June pending home sales and the July Dallas Fed index. The July jobs report will conclude the week on Friday. Earnings reports are due from Affiliated Managers, Alexandria Real Estate, CNA Financial, HSBC, Loews Corp., Roper Technologies, Sanofi, SBA Communications, Vornado Realty Trust. The Treasury announces borrowing requirements for Q3 and Q4 ahead of Wednesday's refunding announcement.