Treasuries are lower across the curve this morning from Friday'sclose. The UST10-Year yield is currently at 2.220% after closing at 2.201% prior.
Today's economic calendar is fairly quiet, with only the Monthly Budget Statement for the month of May available at 11:00 AM (PT). The deficit is expected to widen to $87.00b per consensus versus a deficit of $52.50b in April. At 8:30 AM (PT), Treasury will auction $24 Billion of new 3-Year notes, and at 10:00 AM (PT), will auction $20 Billion of re-opened 10-Year notes.The two-day FOMC June meeting will begin tomorrow, and investors expect the Fed to hike the rates when the meeting concludes on Wednesday.
For the remainder of this week's economic calendar, we will receive the NFIB Small Business Optimism for May, as well as the PPI Final Demand and PPI Ex Food and Energy prints for May on Tuesday. On Wednesday, we will receive the May CPI and CPI Ex Food and Energy, and also the May Retail Sales Advance data. Then on Thursday we have the June Empire Manufacturing and the May Industrial Production print, and on Friday we will have the May Housing Starts and Building Permits.
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
Today's economic calendar is fairly quiet, with only the Monthly Budget Statement for the month of May available at 11:00 AM (PT). The deficit is expected to widen to $87.00b per consensus versus a deficit of $52.50b in April. At 8:30 AM (PT), Treasury will auction $24 Billion of new 3-Year notes, and at 10:00 AM (PT), will auction $20 Billion of re-opened 10-Year notes.The two-day FOMC June meeting will begin tomorrow, and investors expect the Fed to hike the rates when the meeting concludes on Wednesday.
For the remainder of this week's economic calendar, we will receive the NFIB Small Business Optimism for May, as well as the PPI Final Demand and PPI Ex Food and Energy prints for May on Tuesday. On Wednesday, we will receive the May CPI and CPI Ex Food and Energy, and also the May Retail Sales Advance data. Then on Thursday we have the June Empire Manufacturing and the May Industrial Production print, and on Friday we will have the May Housing Starts and Building Permits.
The curve has bear-steepened with the UST 10-Year up 1.9 bps from prior closing.