Daily Market Color December 20, 201910-Year Treasury Yield Remains Unchanged as Impeachment Trial Moves to Senate House Speaker Nancy Pelosi decided to delay giving the impeachment case to the Senate, as she asks for more clarity on the rules of the trial. The two charges will be discussed in a Senate trial that is expected to take place in January 2020. As the Senate has a Republican majority, it is expected that President Trump will be acquitted of his charges. Though the markets have priced in this expectation and remain unmoved by these political events, positive Fed commentary on the economy caused U.S. 10-year Treasury yields to rise slightly yesterday across the curve to 1.92%. Andrew Bailey will replace Mark Carney as the next governor of the Bank of England. He will officially take the position on March 16th. Carney will lead the bank through Brexit, as Boris Johnson has set a hard deadline of January 31st, 2020. Bailey does not have prior experience in setting rates, which could potentially create uncertainty in UK rates markets that have priced in at least one rate cut in 2020. The BOE will focus on Brexit negotiations before making any changes to monetary policy. Day ahead. The Commerce Department will release November consumer spending data which can help predict the volume of this year’s holiday spending. Blackberry Ltd., in addition to other corporations, will be reporting its earnings.