Treasuries Off to a Slow Start

While frantic commodity traders run the price of silver up to an eight-year high, the Treasury market is beginning the week a little more sedately. Prices are slightly weaker, but not enough to cause much of a change in yields. The Ten-Year is trading around 1.07% with the Long Bond at 1.84%. Crude oil is up about a half-dollar to $52.65 as gold’s $16 rally has taken that price to $1,864.

Today’s only numbers come out a little later when Markit U.S. is expected to report that its PMI for Manufacturing was unchanged last month at 59.1. The Institute of Supply Management will also be publishing its Manufacturing PMI, but it’s expected to show a slip to 60 last month from December’s 60.5. The Census Bureau will also be reporting on Construction Spending for December, and a rise of 0.8% is forecast.