Bond Market Update

Data recon

• The reaction to this morning's lone piece of economic data was muted.
• The November Advance International Trade in Goods deficit showed a widening to $102.9 billion from an upwardly revised $98.3 billion (from -$99.1 billion) in October. Exports were $7.4 billion more than October exports, but imports were $12.0 billion more than October imports. Separately, retail inventories were up 0.3% versus an upwardly revised 0.2% (from 0.1%) in October and wholesale inventories were down 0.2% versus a downwardly revised 0.1% increase (from 0.2%) in October.
• Yield check:
  • 2-yr: unch at 4.33%
  • 3-yr: unch at 4.35%
  • 5-yr: +1 bp to 4.44%
  • 10-yr: +2 bps to 4.60%
  • 30-yr: +3 bps to 4.79%