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Manufacturing Survey Below Expectations
04/17/2017
Treasury prices moved higher over the long holiday weekend as Friday’s softer than expected CPI and Retail Sales data combined with continuing geopolitical concerns to push yields lower. Today’s US economic calendar is fairly busy with reports on manufacturing and housing. The Empire State Manufacturing Survey was weaker than expected as the 5.2 printed level was well below forecasts of 15.0. The economic calendar is active each day this week with key activity including tomorrow’s Housing Starts and Industrial Production Reports, Thursday’s Philly Fed Business Outlook Survey and Friday’s PMI and Existing Home Sales Reports. Currently, the 10yr yield is at 2.233%.
