Quiet Start to the New Year

Treasury prices are little changed so far in the first trading day of the New Year. Some positive manufacturing data out of the European Union has provided a boost to global equity markets and domestic markets should open in the green. The Ten-Year’s yield hovers near 93 basis points with the Long Bond at 1.66%. Crude oil is little changed at around $48.29 while gold’s $38 rally has taken that price to $1,937.

A little later this morning, Markit U.S. is expected to report that its Manufacturing PMI fell in December to 56.3 from 56.5. The Census Bureau will also issue a report that’s expected to show that Construction Spending grew 1% in November following October’s 1.3% growth.