Treasury Closing Summary: Treasury Closing Summary: Further unwinding of steepeners remained in vogue, banking profits in front of the holiday weekend. This crowded counter-trend continued to lift yields at the short-end, while driving them lower at the back-end into month-end as a solid duration extension looms and desks begin to clear out. A firmer run of housing permit and home price data was largely offset by a slump in consumer confidence. 5-year supply was hungrily absorbed, even amid the lack of a concession for the issue. The U.S. airforce also challenged China's new unilateral wider ADIZ over disputed islands with Japan.
U.S. Michigan Consumer Sentiment Preview U.S. Michigan Consumer Sentiment Preview: The second release on Michigan Sentiment for November will be released on Wednesday in advance of the Thanksgiving holiday. Analysts expect the headline to be revised up to 74.0 (median 74.8) from 72.0 in the first release. There has been a fairly consistent pattern of upward revisions in the second release over the past year which poses some upside risk to tomorrow's release.