Treasury prices retreated on Friday, but have reversed course this morning after the Federal Reserve reported U.S. industrial production unexpectedly dropped in September by .02%. This is the first decline in this index in 8 months as U.S. companies had been rebuilding inventories and as overseas demand of U.S. goods had picked up.
Earnings news continues this week, with Citigroup announcing net income of $2.17 billion as the company reduced loan loss reserves from $11 billion to $7.66 billion. Tuesday we will see earnings from Bank of America and Wednesday Wells Fargo and US Bank report.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment