Treasury Prices Inching Higher

Treasury bond prices, already up slightly in early trading, were little affected by this morning’s announcement by the Census Bureau that the nation’s Trade Balance for all goods and services became more negative in March. February’s deficit of $71.1B was revised to $70.5B with March’s shortfall coming in at $74.4B, about what was expected. Later this morning, March reports for Factory Orders, Durable Goods Orders, and Capital Goods Orders will be released.

Meanwhile, long-dated Treasury prices are slightly higher with the short end seeing little change. The Thirty-Year Bond’s yield has slipped to 2.27% with the Ten-Year at 1.59%. The Two-Year is unchanged at 16 basis points. The rally in crude oil continues with this morning’s advance of just-under-a-dollar taking that price to $65.28. Gold is off about $7 so far to $1,785. Equity markets are looking a little shaky in pre-opening activity.