December industrial production beats expectations

Summary

Rick Santelli reviewed stronger-than-expected December industrial production and capacity utilization data from CME. Industrial production rose 0.4% versus a 0.1% expectation, with the prior month revised up to 0.4%, while capacity utilization came in at 76.3%. He also noted that the 10-year Treasury yield was hovering around 4.19% after closing at 4.17% on Friday and yesterday.

• December industrial production rose 0.4%, beating the 0.1% consensus.
• The prior month's industrial production was revised up to 0.4%.
• Capacity utilization came in at 76.3%, above the roughly 76.0% expected level.
• Capacity utilization was described as near recent highs, with July just slightly higher.
• The 10-year Treasury yield was hovering around 4.19%.
• Recent 10-year Treasury closes were 4.17% on Friday and 4.17% yesterday, described as very tight.