September NFIB Small Business Optimism fell to 95.3 vs., 96.1 prior. The top contributing factors weighing on the index were drops in current job openings and capital spending plans, followed by dips in earnings trends and the outlook for credit conditions. Treasuries extended their rally this morning as concerns to the Fed's ability to reach its inflationary goals coupled with a dismal global growth outlook for the medium-short term fueled demand for safe haven assets. The curve has bull flattened with 2s10s down -4.4 bps and the 10-Year Yield is testing current resistance levels.
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