Treasuries ended a strong week with another rally that flattened the curve seven basis points for the day. Looking back, the market as a whole handled the supply relatively well considering the record four days of issuance.
We have a much more active economic calendar this week compared to last, dominated by June CPI and the Empire Manufacturing Survey for the month of July on Wednesday, and Housing Starts for the month on June on Friday. Although from a technical perspective Treasuries look rich, any weakness in the economic data this week could force yields even lower, especially with no supply scheduled for the next two weeks.
Cliff J. Reynolds Jr.
We have a much more active economic calendar this week compared to last, dominated by June CPI and the Empire Manufacturing Survey for the month of July on Wednesday, and Housing Starts for the month on June on Friday. Although from a technical perspective Treasuries look rich, any weakness in the economic data this week could force yields even lower, especially with no supply scheduled for the next two weeks.
Cliff J. Reynolds Jr.
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