Treasuries are slightly higher across the curve this morning with oil prices rising +0.50. The UST10-Year yield is currently at 2.287% after closing at 2.297% prior.
MBA Mortgage Applications rose 1.50% in the week ending April 7th after falling 1.60% the previous week. Purchases activities increased 2.90%, while refinance activities remained unchanged after falling 4.20% in the week prior. March Import Prices declined 0.20% after an upwardly revised 0.40% increase in February. The downturn was mainly driven by lower fuel import prices; import prices ex-petroleum rose just 0.20% versus a 0.30% rise prior.
At 11:00 AM (PT), Treasury will auction $12 Billion in reopened 30-Year bonds, and the March monthly budget statement is expected to show a -$169 Billion deficit, after -$108 Billion in February. Thursday we will receive the March PPI Ex Food and Energy data, and Friday we will have the March Retail Sales and CPIinflation reports.
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MBA Mortgage Applications rose 1.50% in the week ending April 7th after falling 1.60% the previous week. Purchases activities increased 2.90%, while refinance activities remained unchanged after falling 4.20% in the week prior. March Import Prices declined 0.20% after an upwardly revised 0.40% increase in February. The downturn was mainly driven by lower fuel import prices; import prices ex-petroleum rose just 0.20% versus a 0.30% rise prior.
At 11:00 AM (PT), Treasury will auction $12 Billion in reopened 30-Year bonds, and the March monthly budget statement is expected to show a -$169 Billion deficit, after -$108 Billion in February. Thursday we will receive the March PPI Ex Food and Energy data, and Friday we will have the March Retail Sales and CPI inflation reports.
The curve has bull-flattened with the UST 10-Year down 1.0 bp from prior closing.