It looks to be a quiet opening to the week as market participants weigh the potential effects of the President’s weekend executive orders temporarily extending some relief efforts and deferring payroll taxes for some. The resumption of negotiations among Congressional leaders has yet to be scheduled.
It’s a light data day with the Job Openings and Labor Turnover Survey (JOLTS) due out a little later this morning. It is expected to show that, in June, the number of new Job Openings fell to 5.3M from 5.397M. Treasury prices have edged up modestly with the Ten-Year’s yield little changed at around 0.54%. Crude oil has slipped a little more than a half-dollar to just under $42 with gold also off slightly to $2,030. The Treasury’s refunding or threes, tens, and thirties starts tomorrow.