Bond Market Update

Sitting Tight

• Treasury market continues to sit tight. Most of today's excitement has taken place away from the Treasury market and specifically in the stock market, which is trading with a positive disposition following a barrage of earnings results since yesterday's close.
• Apple (AAPL) is the reporting headliner after today's close.
• Tomorrow's big economic release in the December Personal Income and Spending Report. The spending result should impress if imputed from the Adv. Q4 GDP report, which showed the biggest increase in personal spending (4.2%) since Q1 2023. The focal point of the report, though, will be the PCE and core-PCE Price Indexes, which is the Fed's preferred inflation gauge.
• Metals futures settled today with an upside bias
  • GC00-USA gold settled today's session $74.90 higher (+2.7%) at $2,844.60/oz
  • SI00-USA silver settled today's session $1.06 higher (+3.4%) at $32.47/oz
  • HG00 copper settled today's session $0.03 higher (+0.7%) at $4.31/lb
• Yield check:
  • 2-yr: -3 bps to 4.20%
  • 3-yr: -3 bps to 4.24%
  • 5-yr: -5 bps to 4.31%
  • 10-yr: -5 bps to 4.51%
  • 30-yr: -4 bps to 4.76%