A few items providing a bit to Treasury Complex
US GOVTS: FUNDING-NY Fed $35 bn 14-day term op is oversubscribed 43.15 bn in bids, 123% subscription (Reuters)
The NFIB Small Business Optimism Index in the US fell to 102.7 in December 2019 from 104.7 in November, missing market expectations of 103.1. Seven out of the ten index components dropped, two improved, and one was unchanged.(Trading Economics)
CPI data was in Line to a touch weaker then Consensus,The Real wages component( Nominal wages -Inflation)a trending lower and confirms the weaker Average hourly earnings we saw in Fridays payroll data. Consumer have less money to spend and their Dollar not worth as Much, double trouble for Consumer.
Solid earnings from ,Delta airlines , JPM and Citi Offset by ugly Well Fargo Earnings ,Financials up a touch bit is Your Market leader in Down market.
