Treasury Prices Drifting Lower

It’s pretty quiet so far this morning with no data releases scheduled until a little later when Markit U.S. is expected to report that its PMIs for both Manufacturing and Services might have slipped a bit last month from their lofty levels. We’ll also be hearing from the National Association of Realtors that Existing Home Sales probably slipped slightly in January.

In the meantime, a mild sell-off in the Treasury market has pushed the Ten-Year’s yield to 1.31% with the Long Bond right at 2.10%. The Two-Year hasn’t gone anywhere and is still around 10 basis points. Crude oil is off about a buck to $59.44 as gold has slipped slightly further to $1,773. Equity markets are mildly green in pre-opening activity.