market opens up off a little onr ates plus report due dates below

MBS  -1/32 @ 103.04       10 Yr T  -2/32 @ 1.8520       DOW    +28@ 14,554

 

It has been a surprisingly quiet morning, as weaker than expected US economic data and events in Europe had little impact. Chicago PMI manufacturing declined to 52.4, below the consensus of 56.0. Weekly Jobless Claims rose to 357K, above the consensus of 340K. Fourth quarter GDP was revised higher to 0.4% from 0.1%, which was close to expectations. Banks in Cyprus finally reopened this morning, and few problems were reported. Italian leaders continue to negotiate the formation of a coalition government, and investors are watching closely for signs of progress. No more economic data will be released today. The results from the 7-yr Treasury auction will come out around 1:00 et.

In observance of Good Friday, MBS markets will close early at 2:00 et today and will be closed tomorrow.

 

Top of Form Treasuries
28-Mar-13 Last Change 3-Month T-Bill 0.08% -0.01% 6-Month T-Bill 0.11% 0.00% 1-Year T-Bill 0.14% 0.00% 2-Year Note 0.24% 0.00% 3-Year Note 0.38% 0.00% 5-Year Note 0.76% 0.01% 10-Year Note 1.85% 0.01% 30-Year Bond 3.10% 0.02%

 

Top of Form Major Indices
28-Mar-13 Last Change 11th District COFI 0.962% -0.109% 1-Month LIBOR 0.204% 0.000% 6-Month LIBOR 0.446% 0.000% 12-Month LIBOR 0.732% -0.001% MTA Index 0.178% 0.000% Prime Rate 3.25% 0.00% Federal Funds Rate 0.25% 0.00% Discount Rate 0.75% 0.00%

 

Top of Form Mortgage Rates
28-Mar-13 Last Change 15-Year Fixed Freddie 2.72% -0.07% 30-Year Fixed Freddie 3.54% -0.09% 1-Year ARM Freddie 2.63% -0.01% 5/1-Year ARM Freddie 2.61% 0.00% Bottom of Form

 

APOR

30 Yr Fixed- 3.54%

5/1 ARM -     2.61%

 

 

Event	Actual	Cons.	Previous
Mar 25	Chicago Fed National Activity Index (Feb)	0.44		-0.49Revised from -0.32
	Dallas Fed Manufacturing Business Index (Mar)	7.4		2.2
	3-Month Bill Auction			0.085%
	6-Month Bill Auction			0.11%
	Fed's William Dudley speech
	Fed's Bernanke Speech
Mar 26	Durable Goods Orders (Feb)		3.8%	-4.9%Revised from -5.2%
	Durable Goods Orders ex Transportation (Feb)		0.5%	2.3%Revised from 1.9%
	Redbook index (MoM) (Mar 17)			0.7%
	Redbook index (YoY) (Mar 17)			2.9%
	S&P/Case-Shiller Home Price Indices (YoY) (Jan)		7.8%	6.8%
	Consumer Confidence (Mar)		68.0	69.6
	New Home Sales (MoM) (Feb)		0.420M	0.437M
	New Home Sales Change (MoM) (Feb)			15.6%
	Richmond Fed Manufacturing Index (Mar)		8	6
	4-Week Bill Auction			0.08%
	2-Year Note Auction			0.257%
Mar 27	MBA Mortgage Applications (Mar 22)			-7.1%
	Pending Home Sales (YoY) (Feb)			9.5%
	Pending Home Sales (MoM) (Feb)		1.0%	4.5%
	EIA Crude Oil Stocks change (Mar 22)			-1.314M
	5-Year Note Auction			0.777%
	Fed Minneapolis's Narayana Kocherlakota speech
Mar 28	Core Personal Consumption Expenditures (QoQ) (Q4)		0.9%	0.9%
	Gross Domestic Product Price Index (Q4)		0.9%	0.9%
	Gross Domestic Product Annualized (Q4)		0.4%	3.1%
	Initial Jobless Claims (Mar 24)		340K	336K
	Continuing Jobless Claims (Mar 17)		3.040M	3.053M
	Personal Consumption Expenditures Prices (QoQ) (Q4)		1.5%	1.5%
	Chicago Purchasing Managers' Index (Mar)		56.5	56.8
	EIA Natural Gas Storage change (Mar 22)			-62B
	Kansas Fed manufacturing activity (Mar)			-10
Mar 29	Core Personal Consumption Expenditure - Prices Index (YoY) (Feb)			1.3%
	Core Personal Consumption Expenditure - Price Index (MoM) (Feb)		0.2%	0.1%
	Personal Consumption Expenditures - Price Index (MoM) (Feb)			0%
	Personal Consumption Expenditures - Price Index (YoY) (Feb)			1.2%
	Personal Income (MoM) (Feb)		0.8%	-3.6%
	Personal Spending (Feb)		0.6%	0.1%
	Reuters/Michigan Consumer Sentiment Index (Mar)		73.2	77.6