Treasuries are modestly higher across the curve this morning upon the release of stronger Retail Sales data for April. The UST10-Year yield is currently at 2.352% after closing at 2.388% prior.
With this week’s most significant data releases, our economic calendar kicked off with the April Consumer Price Index, which came in line with expectations, rising 0.20% after slipping 0.30% in March. The CPI for all items excluding Food and Energy rose 0.10% after falling 0.10% in March. The market was more focused on the Retail Sales print, which rose 0.40% in April, reflecting a much stronger print than the 0.20% decline in March. Excluding auto and gas, sales were up 0.30% after an upwardly revised 0.40% rise in March. Sales in building materials, garden equipment, and health and personal care stores were the main supporters of the strengthened sales numbers in April.
There are a couple Fed Speaks scheduled today, including Chicago FedEvans’s live interview on Bloomberg TV at 7:30 AM (PT), and Philadelphia FedHarker at Drexel University at 9:30 AM (PT).
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
With this week’s most significant data releases, our economic calendar kicked off with the April Consumer Price Index, which came in line with expectations, rising 0.20% after slipping 0.30% in March. The CPI for all items excluding Food and Energy rose 0.10% after falling 0.10% in March. The market was more focused on the Retail Sales print, which rose 0.40% in April, reflecting a much stronger print than the 0.20% decline in March. Excluding auto and gas, sales were up 0.30% after an upwardly revised 0.40% rise in March. Sales in building materials, garden equipment, and health and personal care stores were the main supporters of the strengthened sales numbers in April.
There are a couple Fed Speaks scheduled today, including Chicago Fed Evans’s live interview on Bloomberg TV at 7:30 AM (PT), and Philadelphia Fed Harker at Drexel University at 9:30 AM (PT).
The curve has bull-flattened with the UST 10-Year down 3.6 bps from prior closing.
Have A Wonderful Weekend!