Treasuries are slightly lower across the curve this morning from yesterday’s close. The UST10-Year yield is currently at 2.910% after closing at 2.898% prior.
Treasuriesheld steady overnight and into the open as fears of a possible trade war between U.S. and China showed signs of alleviating. Stocks advanced while the dollar slightly lowered with the steadiness of treasury yields. Key central bank leaders are partaking in a policy panel this morning featuring ECB President Draghi, RBA Governor Lowe, BOJ Governor Kuroda and Fed Chairman Powell to discuss the current outlook of their respective economies.
On the economic calendar, we received the 1Q Current Account Balance which showed an expanded deficit of $124.10 Billion from a downwardly revised $116.10 Billion deficit prior. We also received the Existing Home Sales for the month of May which unexpectedly declined 0.40% month-over-month to 5.43m rate following a 2.70% drop in April; consensus called for a 1.10% increase. MBA Mortgage Applications for the week ended June 15 increased 5.10% after dropping 1.50% the week prior. Purchase applications showed a 4.30% increase in activities after falling 1.50% the week prior, while refinancing applications rose 6.10% after slipping 1.50% the week 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
Treasuries held steady overnight and into the open as fears of a possible trade war between U.S. and China showed signs of alleviating. Stocks advanced while the dollar slightly lowered with the steadiness of treasury yields. Key central bank leaders are partaking in a policy panel this morning featuring ECB President Draghi, RBA Governor Lowe, BOJ Governor Kuroda and Fed Chairman Powell to discuss the current outlook of their respective economies.
On the economic calendar, we received the 1Q Current Account Balance which showed an expanded deficit of $124.10 Billion from a downwardly revised $116.10 Billion deficit prior. We also received the Existing Home Sales for the month of May which unexpectedly declined 0.40% month-over-month to 5.43m rate following a 2.70% drop in April; consensus called for a 1.10% increase. MBA Mortgage Applications for the week ended June 15 increased 5.10% after dropping 1.50% the week prior. Purchase applications showed a 4.30% increase in activities after falling 1.50% the week prior, while refinancing applications rose 6.10% after slipping 1.50% the week prior.
The curve has bear-steepened with the UST 10-Year yield up 1.2 bps from prior closing.