Treasuriesare relatively lower across the curve this morning after yields across maturities reached lowest levels yesterday since November. The UST10-Year yield is currently at 2.204% after closing at 2.169% prior.
This morning we received the MBA Mortgage Applications for the week ending April 14th showing a slip in activity for the 4th time in the last 5 weeks. Mortgage applications fell 1.80% last week after rising 1.50% in prior week, with purchase applications down 3.40% after rising 2.90% prior, while refinance applications increased by 0.20% after rising 0.00% prior.
The rest of today's economic events are both Fed-related. Boston Fed President Rosengren will speak at the Levy Economics Institute of Bard College at 9:30 AM (PT). Then at 11:00 AM (PT), the Fed will release its most recent Beige Book in anticipation of its upcoming two-day meeting in May. Today's release should reveal the current state of regional economies. The remainder of the week consists of Thursday'sLeading Index and Friday'sExisting Home Sales.
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This morning we received the MBA Mortgage Applications for the week ending April 14th showing a slip in activity for the 4th time in the last 5 weeks. Mortgage applications fell 1.80% last week after rising 1.50% in prior week, with purchase applications down 3.40% after rising 2.90% prior, while refinance applications increased by 0.20% after rising 0.00% prior.
The rest of today's economic events are both Fed-related. Boston Fed President Rosengren will speak at the Levy Economics Institute of Bard College at 9:30 AM (PT). Then at 11:00 AM (PT), the Fed will release its most recent Beige Book in anticipation of its upcoming two-day meeting in May. Today's release should reveal the current state of regional economies. The remainder of the week consists of Thursday's Leading Index and Friday's Existing Home Sales.
The curve has bear-steepened with the UST 10-Year up 3.5 bps from prior closing.