U.S. Chicago PMI Preview U.S. Chicago PMI Preview: January Chicago PMI is out on Friday and is expcted at 44.0 from 42.9 in December and 48.7 in November. Already released measures of January producer sentiment have weakened and the remaining releases look poised to remain depressed in January as analysts discussed in Monday's commentary. Analysts now expect the ISM-adjusted average of all measures to fall to a cycle-low 49 after holding at 50 since September. For even more information see our sentiment overview page.
Treasury Closing Summary: Treasury Closing Summary: A rather fickle session on Thursday followed another round of volatile trade in the wake of the tempered FOMC statement the day prior, while an extension of the recovery in crude oil amplified jagged cross-asset moves. Recycled reports of an output deal between Russia and OPEC saw WTI crude probe $34 bbl at one stage before the inevitable denials trickled out and prices steadied. This largely eclipsed the plunge in durables and drop in jobless claims. A 52% jump in Facebook profits helped offset ongoing weakness in the biotech sector and float tech stocks higher, while Treasury yields eased after an exceptionally solid 7-year auction leg.