Treasuries are lower than yesterday at the opening of today’s session. The yield on the UST10-Year is currently at 2.906% after closing at 2.897% during the prior session.
MBA Mortgage Applications for the week ended March 16 were released today and reflected a -1.10% change versus the prior week’s 0.90% mark. Also in today, month-over-monthExisting Home Sales for February came in at 3.00%, above survey of 0.40% and up from previous mark of -3.20%; while Existing Home Sales for February reached 5.54 Million, exceeding estimates of 5.40 Million and up from its previous 5.38 Million mark. Finally, 4Q Current Account Balance reflected a $128.20 Billion deficit, larger than the estimated deficit for the period of $125.00 Billion and larger than the previously reported $101.50 Billion revised deficit.
The Federal Open Market Committee of the Federal Reserve is scheduled to conclude their meeting today, where a possible determination of a further increase to the Fed Funds Target Rates could be announced at 11:00 AM (PT).
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MBA Mortgage Applications for the week ended March 16 were released today and reflected a -1.10% change versus the prior week’s 0.90% mark. Also in today, month-over-month Existing Home Sales for February came in at 3.00%, above survey of 0.40% and up from previous mark of -3.20%; while Existing Home Sales for February reached 5.54 Million, exceeding estimates of 5.40 Million and up from its previous 5.38 Million mark. Finally, 4Q Current Account Balance reflected a $128.20 Billion deficit, larger than the estimated deficit for the period of $125.00 Billion and larger than the previously reported $101.50 Billion revised deficit.
The Federal Open Market Committee of the Federal Reserve is scheduled to conclude their meeting today, where a possible determination of a further increase to the Fed Funds Target Rates could be announced at 11:00 AM (PT).
The curve has bear-steepened with the UST 10-Year yield up 0.9 bp from prior closing.