Treasury Market Outlook: yields have moved up
Treasury Market Outlook: yields have moved up, led by the front end and extending Wednesday's updraft. The 2-year rate is 3 bps higher at 1.96%, with the 10-year up 2 bps at 2.467%. Increased risk appetite after strong gains in equities to begin the new year, along with a hawkish spin from the FOMC minutes, are boosting yields. A huge 3.26% rally in the Nikkei as Japanese markets reopened, and solid Eurozone PMI reports added to the bullish outlook on global growth. Though the markets are looking ahead to Friday's December nonfarm payrolls release, there's data today of interest, including the December ADP employment survey. Also on tap are weekly jobless claims, the final Markit December services PMI, Challenger announced layoffs, and weekly crude oil inventory figures. The Treasury announces next week's supply with 3-, 10-, and 30-year maturities. Fedspeak has Bullard giving the keynote address at an economic conference in Philadelphia. The earnings calendar features reports from Monsanto, and Walgreens Boots.