Treasuriesare lower than Friday at the opening of today’s session. The yield on the UST10-Year is currently at 2.854% after closing at 2.842% during the prior session.
This week’s economic calendar is relatively quiet. Today it features forecast Markit Services PMI for January coming in at 53.30, matching both survey and prior mark; while forecast Markit Composite PMI for January came in at 53.80, also matching its prior mark. Further, ISM Non-Manufacturing Composite for January came in at 59.90, above survey of 56.70 and above prior mark of 56.00 revised.
Lawmakers will continue negotiations this week on a federal government funding bill that would extend the February 8 deadline until March 22, but it is unclear whether the short-term bill has enough votes this time around. St. Louis Fed President James Bullard is scheduled to speak tomorrow on the U.S. Economy and Monetary Policy in Lexington, Kentucky.
This information is provided solely for informational use and is not intended as trading or investment advice in any manner whatsoever. Sun West Mortgage Company, Inc. is not a licensed or registered broker or dealer and cannot provide investment strategies or recommendations. This information is provided to licensed brokers/lenders only and may not be copied or distributed to customers or potential customers. All loans are subject to approval. Certain restrictions may apply. Listed pricing is a morning indication only. Program rates, prices, guidelines, fees, costs, terms and conditions are subject to change without notice
This week’s economic calendar is relatively quiet. Today it features forecast Markit Services PMI for January coming in at 53.30, matching both survey and prior mark; while forecast Markit Composite PMI for January came in at 53.80, also matching its prior mark. Further, ISM Non-Manufacturing Composite for January came in at 59.90, above survey of 56.70 and above prior mark of 56.00 revised.
Lawmakers will continue negotiations this week on a federal government funding bill that would extend the February 8 deadline until March 22, but it is unclear whether the short-term bill has enough votes this time around. St. Louis Fed President James Bullard is scheduled to speak tomorrow on the U.S. Economy and Monetary Policy in Lexington, Kentucky.
The curve has bear-steepened with the UST 10-Year yield up 1.2 bps from prior closing.