The UST10-Year yield is at 2.562% this morning after closing at 2.519% yesterday.
U.S. Treasury yields climbed again this morning for the 8th consecutive day, making headway for the longest losing streak in 5 years ahead of today’s 10-Yearauction.
Today’s economic releases consist of MBA Mortgage Applications, which rose 3.30% for the week ended March 3rd after a 5.80% rise the week prior. Overall, applications for mortgages are down 18.00% from this time last year, with the average 30-Year fixed rate at 4.360% vs. 4.300% the week prior. ADP Employment recorded a 298K increase in new jobs for the month of February, its 3rd largest advance in job creation since 2014. The construction industry added 66K jobs, factories increased head-counts by 32K, large companies hired 72K additional workers and the largest came from medium size companies which added 122K jobs last month. Wholesale Inventories fell 0.20% to $600 Billion in January according to the Census Bureau.
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U.S. Treasury yields climbed again this morning for the 8th consecutive day, making headway for the longest losing streak in 5 years ahead of today’s 10-Year auction.
Today’s economic releases consist of MBA Mortgage Applications, which rose 3.30% for the week ended March 3rd after a 5.80% rise the week prior. Overall, applications for mortgages are down 18.00% from this time last year, with the average 30-Year fixed rate at 4.360% vs. 4.300% the week prior. ADP Employment recorded a 298K increase in new jobs for the month of February, its 3rd largest advance in job creation since 2014. The construction industry added 66K jobs, factories increased head-counts by 32K, large companies hired 72K additional workers and the largest came from medium size companies which added 122K jobs last month. Wholesale Inventories fell 0.20% to $600 Billion in January according to the Census Bureau.
The curve has bear-steepened with the UST 10-Year 4.3 bps up from prior closing.