Housing Data to Drive the Market
The US dollar is weaker, equities are higher, and gold is soaring. That’s how the Thanksgiving-shortened week is beginning after markets slid back late last week.
Led by global markets, US equities are looking to open 1% higher on Monday. Conversely, Treasuries are weaker with the benchmark 10-year yield up 2 basis points at 3.38%.
Analysts from BMO note the Treasury is issuing $61 billion in short-term bills and $118 billion in 2-, 5-, and 7-year notes this week. “Given the recent hearty appetite (amid concerns about a flagging recovery), [the market] should have little difficulty swallowing the lot,” they said.
Meanwhile, gold prices are flying $19 higher at $1,166 per ounce as the dollar continues to weaken.
Key Events This Week:
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