A Morsel of Good News to Start the Week

The New York Fed announced this morning that its Empire Manufacturing Index rose more-than-expected this month to 17.4 from 12.1 versus estimates of 15. Treasury prices are little changed in early trading with the Ten-Year around 1.62% and the Long Bond at 2.38%. The Two-Year is also pretty steady at around 15 basis points. DJIA futures are mildly green with crude oil slipping about a half-dollar to $65.18. Gold has rallied slightly to $1,729. This week’s big event will be Chairman Jerome Powell’s Wednesday afternoon press conference after the FOMC’s March meeting wraps up.