U.S. stocks are sharply lower this morning on disappointment from Friday’s European Financial Summit. While the summit produced some positive headlines most of the difficult problems remain unaddressed, causing Moody’s to place all EU members on review for possible downgrade. U.S. Treasuries have won back most of Friday’s losses as investors again seek the perceived safety of U.S. debt. The yield on the 10 year note has fallen from 2.06% to 1.995%.
While there is no economic data on the calendar for today, this week is full with releases on inflation, industrial production, and manufacturing activity. The main event will be tomorrow’s Fed meeting with the accompanying rate decision and general statement on the economy.
In addition to the full economic calendar the U.S. Treasury will auction 3 year notes today, 10 year notes on Tuesday and 30 year bonds on Wednesday.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment