CNBC's Rick Santelli joins 'Squawk on the Street' to break down the latest industrial production and capacity utilization data to cross the tape.

U.S. industrial production in December rose by 0.4%, outperforming the anticipated 0.1% increase. The previous month's figure was also revised upward to 0.4%, marking two consecutive months of strong gains, the highest since June.

Capacity utilization for December reached 76.3%, slightly above forecasts and nearly matching July's peak. Meanwhile, 10-year Treasury yields remained steady near 4.19%, and corporate bond spreads are at their tightest levels since 2007.

December industrial production beats expectations

Welcome back to Spock. I'm the street Rick Santelli here live at CME HQ with some of the last breaking news of the week These are December reads on industrial production and capacity utilization industrial production Expected to be up well a tenth of a percent comes in much stronger a four tenths of a percent and last month gets upgraded from Two tenths to also up four tenths. So back-to-back four tenths Those are the best levels since June when we were up half of a percent now Let's look at utilization rate. Shall we expecting a number around 76 and that's kind of where it's been Congesting but this one comes in a little out of that range 76.3 and last month also improved from 76.0 to 76.1 76.3 that would be the best level going back to well pretty much equaling and July was just a smidge higher Remember on utilization rates They take it out a couple of decimal points a couple of big things going on very quickly here We are hovering right around 419 in a 10-year last Friday. It closed at 417 Yesterday it closed at 417 it's very very very tight on all the closing yields whether you're looking at twos or tens and if you look at the spreads and corporates, they are some of the tightest and since 2007 Jim David back to you

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Breakdown