Treasuriesare slightly higher across the curve this morning from yesterday’s close. The UST10-Year yield is currently at 2.310% after closing at 2.315% during the prior session.
Treasury prices held ground through the opening of today’s session as concerns loomed that a potential corporate tax reform may be delayed and ahead of a $23 Billion 10-YearTreasuryauction at 10:00 AM (PT) today. Further, Democrats had several wins yesterday; adding a governor and gaining several legislature seats in New Jersey, protecting a governorship change and taking more seats in the lower House than anticipated in Virginia, adding several state legislative seats in Georgia, New Hampshire and Washington, and sweeping several mayoral races.
The MBA US weekly mortgage application survey for the week ended November 3 released results today with a drop of 0.03% against the prior week, after falling by 2.60% the week before. The average 30-Year fixed rate for the week was 4.180% vs. 4.220% during the prior week. The economic calendar for the remainder of the week includes jobless claims for tomorrow and the University of Michigan consumer sentimenton Friday.
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Treasury prices held ground through the opening of today’s session as concerns loomed that a potential corporate tax reform may be delayed and ahead of a $23 Billion 10-Year Treasury auction at 10:00 AM (PT) today. Further, Democrats had several wins yesterday; adding a governor and gaining several legislature seats in New Jersey, protecting a governorship change and taking more seats in the lower House than anticipated in Virginia, adding several state legislative seats in Georgia, New Hampshire and Washington, and sweeping several mayoral races.
The MBA US weekly mortgage application survey for the week ended November 3 released results today with a drop of 0.03% against the prior week, after falling by 2.60% the week before. The average 30-Year fixed rate for the week was 4.180% vs. 4.220% during the prior week. The economic calendar for the remainder of the week includes jobless claims for tomorrow and the University of Michigan consumer sentiment on Friday.
The curve has bull-flattened as the UST 10-Year yield dropped 0.5 bp from prior closing.