November 19, 2018 / 2:54 PM / 6 months ago

TREASURIES-Bonds little changed before Fed's Williams speaks

    * NY Fed's Williams to speak
    * Bond market closed Thursday for U.S. Thanksgiving holiday

    By Karen Brettell
    NEW YORK, Nov 19 (Reuters) - U.S. Treasury yields were
little changed on Monday before New York Federal Reserve
President John Williams was due to speak after comments by
Richard Clarida, the newly appointed vice chair of the Federal
Reserve, were viewed as dovish.
    Clarida said on Friday that U.S. interest rates are nearing
Fed estimates of a neutral rate, and being at neutral "makes
    Fed Chairman Jerome Powell said last Wednesday that a
"really strong" U.S. economy is likely to continue growing, but
softness in housing and high levels of corporate debt have
caught the Federal Reserve's eye.             
    "The market's interpretations of those comments were very
dovish," said Thomas Simons, a money market economist at
Jefferies in New York.
    Market direction was constrained on Monday with no main
catalysts to drive direction before the U.S. Thanksgiving
holiday and with no major economic events or no new supply.
    "Very little data, no nominal supply, holiday shortened
week. It all kind of adds up to no good reason to do anything
unless there are headlines that come across that change the
narrative," said Simons.
    The bond market will be closed on Thursday for Thanksgiving
and will close early on Friday.
    Investors also remained focused on headlines around trade
and Britain's exit from the European Union.             

 (Editing by Jeffrey Benkoe)
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