Treasuries are lower across the curve this morning. The UST10-Year yield is currently at 2.291% after closing at 2.281% prior.
This week’s economic calendar kicked off with the March Personal Income and Personal Spending, both coming in below expectations. Personal Income rose 0.20% versus 0.30% consensus, while Personal Spending printed at 0.00% versus an expected rise of 0.20%. U.S. inflation slowed in March, with the March PCE Deflator falling 0.20% after hitting a five-year peak the month prior, reflecting lower gas prices along with other consumer goods such as new autos. The Markit US Manufacturing PMI came in as expected and unchanged from prior at 52.80. U.S. April ISM Manufacturing came in below expectations at 54.80 versus 56.50 consensus.
The rest of the week will be heavily focused on the rate decision from the FOMC meeting on Wednesday, along with the jobs report that will be released on Friday.
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
This week’s economic calendar kicked off with the March Personal Income and Personal Spending, both coming in below expectations. Personal Income rose 0.20% versus 0.30% consensus, while Personal Spending printed at 0.00% versus an expected rise of 0.20%. U.S. inflation slowed in March, with the March PCE Deflator falling 0.20% after hitting a five-year peak the month prior, reflecting lower gas prices along with other consumer goods such as new autos. The Markit US Manufacturing PMI came in as expected and unchanged from prior at 52.80. U.S. April ISM Manufacturing came in below expectations at 54.80 versus 56.50 consensus.
The rest of the week will be heavily focused on the rate decision from the FOMC meeting on Wednesday, along with the jobs report that will be released on Friday.
The curve has bear-steepened with the UST 10-Year up 1.0 bp from prior closing.