Bonds Getting Off to a Good Start

Prices for Treasury bonds are moving up slightly in this morning’s early trading. Today’s only data-point has already been announced by the Chicago Fed with a report on its National Activity Index for April and the news was not encouraging. The Bank’s broad measure of economic activity was already expected to slip a little bit to 1.2 from 1.71, but instead plummeted to just 0.24. Readers may recall that last week began with a similar and similarly desultory report from the New York Fed.

Yields have fallen slightly with the Long Bond bringing 2.30% and the Ten-Year resting at 1.62%. The always steady Two-Year is steady at 15 basis points. Crude oil is up less-than-a-dollar to $64.32 while gold’s modest advance has taken that price to $1,885. Equity futures are flashing green.