The UST10-Year yield is at 2.383% this morning after closing at 2.418% yesterday.
This morning, U.S. Treasuries continued to rally pushing yields down to their lowest levels in over 3 weeks as uncertainty grows under the new Trump presidency over the ability to successfully repeal and replace ObamaCare, and deliver on the promised tax cuts and fiscal reforms.
In economic releases, MBA Mortgage Applications fell by 2.70% in the week ended March 17th after a 3.10% rise the week prior. FHA purchases were down 1.20% and VA refinances dropped by 13.60%. The average 30-Year fixed rate remained at 4.460% for the past 2 weeks. FHFA House Price Index was unchanged in January after a 0.40% rise the month prior. Existing Home Sales dropped 3.70% to 5.48 Million in February after rising to their highest level of 5.69 Million the previous month.
The U.S. Dollar is beginning to see some recovery after losing 1.56% against the Yen and 1.51% against the Pound in the last 5 days; currently the Dollar Index (DXY) is up 0.04% at 99.79. WTI Crude Oil prices have dropped 54 cents to $47.70 per barrel.
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This morning, U.S. Treasuries continued to rally pushing yields down to their lowest levels in over 3 weeks as uncertainty grows under the new Trump presidency over the ability to successfully repeal and replace ObamaCare, and deliver on the promised tax cuts and fiscal reforms.
In economic releases, MBA Mortgage Applications fell by 2.70% in the week ended March 17th after a 3.10% rise the week prior. FHA purchases were down 1.20% and VA refinances dropped by 13.60%. The average 30-Year fixed rate remained at 4.460% for the past 2 weeks. FHFA House Price Index was unchanged in January after a 0.40% rise the month prior. Existing Home Sales dropped 3.70% to 5.48 Million in February after rising to their highest level of 5.69 Million the previous month.
The U.S. Dollar is beginning to see some recovery after losing 1.56% against the Yen and 1.51% against the Pound in the last 5 days; currently the Dollar Index (DXY) is up 0.04% at 99.79. WTI Crude Oil prices have dropped 54 cents to $47.70 per barrel.
The curve has bull-flattened with the UST 10-Year 3.5 bps down from prior closing.