The bond market is back open
After yesterday's holiday, the US bond market is back open and yields are lower across the curve. 10s are down 4.2 bps to 0.93% with the market in a negative mood, leading to weakness in the commodity currencies.
Up next at the bottom of the hour is a pair of reports: CPI and initial jobless claims. Inflation will be a concern at some point next year as some y/y comps roll in but it's not an issue now and prices are expected up just 0.1% m/m and 1.3% y/y.
Initial jobless claims are more likely to move the market. The consensus is 731K, a small improvement from 751K a week ago.
Later:
- 1600 GMT Weekly US oil inventories
- 1600 GMT BOE's Cunliffe
- 1645 GMT ECB's Largard, BOE's Bailey and Fed's Powell speak at ECB event
- 1800 GMT US 30-year bond sale
- 1800 GMT Fed's Evans
- 1830 GMT BOC's Wilkins
