Treasuriesare slightly lower across the curve this morning. The UST10-Year yield is currently at 2.309% after closing at 2.304% prior.
Yesterday, the Trump administration presented details of the guidelines for the proposed tax reform. Although the details were mostly aligned with the tax reform that President Trump promised during his campaign, it lacked details of how the proposed plan would be paid for, which was a major component that investors were looking for.
Today’s heavy economic calendar kicked off with Wholesale Inventories, which came in below expectations, slipping to -0.10% from a downwardly revised 0.20% prior. Durable Goods Orders rose 0.70% in March from an upwardly revised 2.30% prior, marking a third straight month of increase. Durable Ex Transportation fell to -0.20% from an upwardly revised 0.70% prior. Initial Jobless Claims for the week of April 22nd rose 14k to 257k from a downwardly revised 243k prior, the highest jump since the week that ended March 25th, while Continuing Claims rose 10k to 1988k from a downwardly revised 1978k prior.
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
Yesterday, the Trump administration presented details of the guidelines for the proposed tax reform. Although the details were mostly aligned with the tax reform that President Trump promised during his campaign, it lacked details of how the proposed plan would be paid for, which was a major component that investors were looking for.
Today’s heavy economic calendar kicked off with Wholesale Inventories, which came in below expectations, slipping to -0.10% from a downwardly revised 0.20% prior. Durable Goods Orders rose 0.70% in March from an upwardly revised 2.30% prior, marking a third straight month of increase. Durable Ex Transportation fell to -0.20% from an upwardly revised 0.70% prior. Initial Jobless Claims for the week of April 22nd rose 14k to 257k from a downwardly revised 243k prior, the highest jump since the week that ended March 25th, while Continuing Claims rose 10k to 1988k from a downwardly revised 1978k prior.
The curve has bear-steepened with the UST 10-Year up 0.5 bp from prior closing.