The UST10-Year yield is at 1.775% this morning after closing at 1.756% yesterday.
Treasury yields are higher this morning after mostly mixed economic data. MBA Mortgage Applications were lower for the week with the index falling by 4.10%. The purchase index was down 6.90% and refinances decreased by 2.30%, a bright stop was that the average 30-Year fixed rate dropped from 3.730% to 3.710%. In other housing data, New Home Sales came in at 593K vs. 600K expected and last month's number of 609K was revised to 575K, month over month New Home Sales showed a 3.10% gain. Wholesale Inventories increased by 0.20% month over month and US Services PMI was strong at 54.80 vs. 52.50 expected.
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Treasury yields are higher this morning after mostly mixed economic data. MBA Mortgage Applications were lower for the week with the index falling by 4.10%. The purchase index was down 6.90% and refinances decreased by 2.30%, a bright stop was that the average 30-Year fixed rate dropped from 3.730% to 3.710%. In other housing data, New Home Sales came in at 593K vs. 600K expected and last month's number of 609K was revised to 575K, month over month New Home Sales showed a 3.10% gain. Wholesale Inventories increased by 0.20% month over month and US Services PMI was strong at 54.80 vs. 52.50 expected.
For the rest of the week, Thursday has Durable Goods and Jobless Claims numbers. Friday brings us the Employment Cost Index, a first look at Q3 GDP, Personal Consumption and the University of Michigan Consumer Sentiment Index.
The curve has bear-steepened with the UST 10-Year 1.9 bps up from prior closing.