The UST10-Year yield is at 2.376% this morning after closing at 2.419% on Friday.
Treasury yields rose substantially Friday after a mixed employment report resulted in a sell-off. Today the market opened with treasuriesrallying across all maturities as investors bought back into long-term bonds.
Contrasting economic views were provided on Friday as Richmond Fed economist Kartik Athreya, who spoke on behalf of Richmond Fed President Lacker, warned that the Fed could potentially raise interest rates faster than anticipated; while Chicago’s Fed President Evans stated that the economic outlook remains “weak” and “uncertain”.
This morning, FHA announced a reduction on its annual mortgage insurance premium (MIP) by 25 basis points for most new mortgages with a closing/disbursement date on or after January 27, 2017, potentially saving new FHA-insured homeowners an average of $500 annually.
Today’s only economic report is the November Consumer Credit at 12:00 PM (PT), which is expected to rise by $18.350 Billion after a $16.018 Billion increase in October.
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Treasury yields rose substantially Friday after a mixed employment report resulted in a sell-off. Today the market opened with treasuries rallying across all maturities as investors bought back into long-term bonds.
Contrasting economic views were provided on Friday as Richmond Fed economist Kartik Athreya, who spoke on behalf of Richmond Fed President Lacker, warned that the Fed could potentially raise interest rates faster than anticipated; while Chicago’s Fed President Evans stated that the economic outlook remains “weak” and “uncertain”.
This morning, FHA announced a reduction on its annual mortgage insurance premium (MIP) by 25 basis points for most new mortgages with a closing/disbursement date on or after January 27, 2017, potentially saving new FHA-insured homeowners an average of $500 annually.
Today’s only economic report is the November Consumer Credit at 12:00 PM (PT), which is expected to rise by $18.350 Billion after a $16.018 Billion increase in October.
The remainder of this week’s light economic calendar consists of Tuesday’s NFIB Small Business Optimism and Wholesale Inventories, Wednesday’s MBA Mortgage Applications, Thursday’s Initial Jobless and Continuing Claims, and Friday’s PPI Ex Food and Energy MoM and PPI Final Demand MoM.
The curve has bull-flattened with the UST 10-Year down 4.3 bps from prior closing.