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North Korea’s Kim Jong II Passes Away
12/19/2011
Treasury prices are relatively flat this morning as markets digest several EU credit downgrades over the weekend, as well as the news of North Korea’s Kim Jong II’s death. EU finance ministers will hold a conference call today to discuss new budget rules and also increased funding of the IMF. The US economic calendar is relatively light through the first half of this week with mostly US housing data but ramps up on Thursday and Friday. Key reports include Thursday’s GDP and personal consumption reports and Friday’s durable goods orders and Nov income and spending reports. Currently, the 10yr yield is at 1.873% (1.908% Friday) and the 2-10 yield spread is at 164bps, flatter by 3bps since Friday morning.
