Well, some markets. News over the weekend that efforts to develop a workable COVID-19 vaccine may be be getting some regulatory acceleration has lifted equity markets across the globe. Domestically, the DJIA is poised to open with triple-digit green arrows while Treasury prices slip a little bit. Today’s only scheduled data announcement has already been announced with the release by the Chicago Fed that its National Activity Index fell to 1.18 in July after June’s reading of 4.11 was revised to 5.33. Quite a dip. Analysts were only looking for a smaller decline to 3.7.
The very slight sell-off in bonds still leaves the Ten-Year yielding 63 basis points with the Long Bond hovering at 1.35%. The Two-Year is still a lofty 15 basis points. Crude oil is up less than a half-dollar to $42.70 while gold enjoys a small rally to $1,947.