Treasuries are higher than yesterday at the opening of today's session. The yield on the UST10-Year is currently at 2.887% after closing at 2.894% during the prior session.
A second revision to the quarter-over-quarterGDP Growth for the 4Q was revised down to 2.50%, matching estimates but moving down from prior 2.60%. Also in today, MBA Mortgage Applications for the week ended February 23 rose 2.70% from prior -6.60%. A second revision for Personal Consumption during the 4Q reflected a 3.80%, matching prior result and above estimates of 3.60%. The Chicago Purchasing Manager Index for February reached 61.90, below estimates of 64.10 and down from prior 65.70. Finally, month-over-monthPending Home Sales for January reflected a -4.70% change, versus estimates of 0.50% and down from prior 0.00% revised; while year-over-yearPending Home Sales for January reflected a -1.70% change versus -1.80% prior.
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A second revision to the quarter-over-quarter GDP Growth for the 4Q was revised down to 2.50%, matching estimates but moving down from prior 2.60%. Also in today, MBA Mortgage Applications for the week ended February 23 rose 2.70% from prior -6.60%. A second revision for Personal Consumption during the 4Q reflected a 3.80%, matching prior result and above estimates of 3.60%. The Chicago Purchasing Manager Index for February reached 61.90, below estimates of 64.10 and down from prior 65.70. Finally, month-over-month Pending Home Sales for January reflected a -4.70% change, versus estimates of 0.50% and down from prior 0.00% revised; while year-over-year Pending Home Sales for January reflected a -1.70% change versus -1.80% prior.
The curve has bull-flattened with the UST 10-Year yield down 0.7 bp from prior closing.