Treasuries are higher across the curve this morning from yesterday’s close. The UST10-Year yield is currently at 2.820% after closing at 2.843% prior.
This morning we received the MBA Mortgage Applications for the week ended on March 9 which rose 0.90% after increasing 0.30% the week prior. Purchase applications increased 3.40% after dropping 0.50% prior, while refinancing activities fell 2.20% after rising 1.50% prior. We also received the Retail Sales Advance print for February, which came in below expectations at -0.10% versus a 0.30% increase per consensus. February Retail Sales excluding Auto rose 0.20% following an upwardly revised 0.10% increase prior, and Retail Sales excluding Auto and Gas rose 0.30% following a revised drop of -0.10% prior.
The February PPI Final Demand came in above expectations at 0.20% versus a 0.10% increase per consensus; YoYPPI Final Demand is now at 2.80% versus 2.70% prior. PPI excluding Food and Energy rose 0.20% following a 0.40% increase prior; PPI excluding Food and Energy is now up 2.50% from 2.20% prior. Lastly, we received the Business Inventories for the month of January, which came in line with expectations at 0.60%.
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 morning we received the MBA Mortgage Applications for the week ended on March 9 which rose 0.90% after increasing 0.30% the week prior. Purchase applications increased 3.40% after dropping 0.50% prior, while refinancing activities fell 2.20% after rising 1.50% prior. We also received the Retail Sales Advance print for February, which came in below expectations at -0.10% versus a 0.30% increase per consensus. February Retail Sales excluding Auto rose 0.20% following an upwardly revised 0.10% increase prior, and Retail Sales excluding Auto and Gas rose 0.30% following a revised drop of -0.10% prior.
The February PPI Final Demand came in above expectations at 0.20% versus a 0.10% increase per consensus; YoY PPI Final Demand is now at 2.80% versus 2.70% prior. PPI excluding Food and Energy rose 0.20% following a 0.40% increase prior; PPI excluding Food and Energy is now up 2.50% from 2.20% prior. Lastly, we received the Business Inventories for the month of January, which came in line with expectations at 0.60%.
The curve has bull-flattened with the UST 10-Year yield down 2.3 bps from prior closing.