There is very little on the economic calendar over the course of the next two weeks. Of note are the 10-Year and 30-Year Treasury Auctions this week (Wednesday and Thursday, respectively). The FOMC Minutes will be released next Wednesday, February 20th. Then we get to March 1 and the Spending Sequester, which several prominent politicians have recently come out stating that it is likely to take place. The question is, are the expectations and implications of this “priced in”.
Today’s 10-Year auction came in rather mixed, with the highest yield since March 2012. Much of the data and sentiment in 2013 feels eerily similar to the beginning of 2012. This could be the start to the “great rotation” or it could be just another head fake.
And for your reality check, below is a clip from CNBC six years ago this week: