Prices of Treasury bonds are slightly higher this morning as markets await a news-filled week that includes the Fed’s first meeting of the year. The Ten-Year’s yield is down a few basis points to 1.06% while the Long Bond has drifted down to 1.81%. The Two-Year anchors the short-end at around 12 basis points. Crude oil is little changed at $52.18 as gold’s $12 rally takes that price to $1,867. Domestic equity indices are flashing red.
Earlier today, the Chicago Fed announced that its National Activity Index rose to 0.52 last month after November’s value of 0.27 was revised to 0.31. Analysts expected the Index to fall to 0.10. A little later, the Dallas Fed will release its January Manufacturing Index and it is expected to rise to 12 from December’s 9.7.