Today’s session opened with Treasuries marginally lower from yesterday. The yield on the UST10-Year is currently at 2.487% after closing at 2.484% during the prior session.
The economic calendar for this week concludes with plenty of new data. Month-over-monthPersonal Income for November rose 0.30%, marginally below survey of 0.40% and prior of 0.40%. Month-over-monthPersonal Spending for November on the other hand rose by 0.60%, exceeding estimates of 0.50% and its 0.20% prior revised. Durable Goods Orders for November preliminary rose by 1.30%, falling short of 2.00% survey but exceeding its -0.40% prior revised. New Home Sales for November came in at 733k, above survey of 655k and well above its 624k prior revised; while month-over-month New Home Sales for November rose 17.50%, widely exceeding survey of -4.40% and its -1.70% prior revised. Finally, University of Michigan’s Consumer Expectations forecast for December came in at 84.30 from 84.60 prior; 1-Year Inflation Expectations forecast for December came in at 2.70% from 2.80% prior; and 5-10 Years Inflation Expectations forecast for December came in at 2.40% from 2.50% prior.
Investors await a $45 Billion three-month treasury bills auction on December 26, which should provide a gauge as to how confident the market feels about lawmakers in Washington reaching an agreement to avoid a debt-ceiling breach in March.
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
The economic calendar for this week concludes with plenty of new data. Month-over-month Personal Income for November rose 0.30%, marginally below survey of 0.40% and prior of 0.40%. Month-over-month Personal Spending for November on the other hand rose by 0.60%, exceeding estimates of 0.50% and its 0.20% prior revised. Durable Goods Orders for November preliminary rose by 1.30%, falling short of 2.00% survey but exceeding its -0.40% prior revised. New Home Sales for November came in at 733k, above survey of 655k and well above its 624k prior revised; while month-over-month New Home Sales for November rose 17.50%, widely exceeding survey of -4.40% and its -1.70% prior revised. Finally, University of Michigan’s Consumer Expectations forecast for December came in at 84.30 from 84.60 prior; 1-Year Inflation Expectations forecast for December came in at 2.70% from 2.80% prior; and 5-10 Years Inflation Expectations forecast for December came in at 2.40% from 2.50% prior.
Investors await a $45 Billion three-month treasury bills auction on December 26, which should provide a gauge as to how confident the market feels about lawmakers in Washington reaching an agreement to avoid a debt-ceiling breach in March.
The curve has bear-flattened with the UST 10-Year yield up 0.3 bp from prior closing.
Have A Lovely Weekend!