Treasury Prices Slipping as the Week Begins

Prices in the Treasury market are starting off the week slightly lower than where they ended last week and that has pushed yields fractionally higher. No data pronouncements are expected until later this morning when Markit U.S. and the Institute of Supply Management will release their PMI Manufacturing reports for April. Slight improvements are expected. We should also hear from the Census Bureau that Construction Spending might have risen by 1.7% in March. Wards Automotive Group will report on April’s Total Vehicle Sales this afternoon.

Meanwhile, the Long Bond is looking at 2.32% with the Ten-Year yielding 1.65%. The Two-Year is steady at 16 basis points. Crude oil is up a smidge to $63.74 while gold has rallied about $10 to $1,780. Equity futures are flashing green.