Treasury Market Outlook: Treasury yields have dipped into the green
Treasury Market Outlook: Treasury yields have dipped into the green, unwinding some of Friday's selloff. The 2-year rate is at 1.95% from 1.96% in Asian action and a 1.959% close on Friday. The 10-year slipped to 2.465% from 2.48% earlier and the 2.47% finish last week. Core European yields are off a couple of basis points with the German Bund at 0.41% versus 0.45% in Asian action and Friday's 0.436%. Equities are higher but have pared earlier gains with the S&P 500 having stumbled and has dropped into the red. Data overnight was positive on growth with strong Eurozone retail sales and confidence reports. Oil prices are firmer near $62 on WTI. There isn't much on today's calendar with just November consumer credit. There is Fedspeak from Bostic (an FOMC voter), Williams and Rosengren. Supply is just ahead with $56 B in coupons on offer, beginning with tomorrow's $24 B 3-year auction.