More updates and reports

 

MBS  -14/32 @ 100.18        10 Yr Treasury  -16/32 @ 2.171            +2@ 15,326

 

This morning, MBS dropped sharply a few minutes ahead of the release of the Chicago PMI manufacturing index data. In fact, Chicago PMI jumped to 58.7, far above the consensus of 50.0, and the highest level since March 2012, which was consistent with a drop in MBS prices. Today's other economic data came in weaker than expected. The April Core PCE price index was unchanged from March, and it was just 1.1% higher than one year ago. This is the Fed's preferred inflation indicator, and it's far below the Fed's long-run inflation goal of 2.0%. April Personal Income also was unchanged from March.

The Thomson Reuters/University of Michigan's final reading on the overall index on consumer sentiment rose to 84.5 from 76.4 in April. It was the highest level since July 2007. The report topped expectations for 83.7, which was May's preliminary figure earlier in the month.

Top of Form Treasuries
31-May-13 Last Change 3-Month T-Bill 0.02% 0.00% 6-Month T-Bill 0.06% 0.00% 1-Year T-Bill 0.13% 0.00% 2-Year Note 0.30% 0.01% 3-Year Note 0.52% 0.03% 5-Year Note 1.05% 0.05% 10-Year Note 2.15% 0.04% 30-Year Bond 3.30% 0.03%

 

Top of Form Major Indices
31-May-13 Last Change 11th District COFI 0.967% -0.032% 1-Month LIBOR 0.190% -0.004% 6-Month LIBOR 0.414% -0.002% 12-Month LIBOR 0.689% 0.001% MTA Index 0.169% -0.005% Prime Rate 3.25% 0.00% Federal Funds Rate 0.25% 0.00% Discount Rate 0.75% 0.00%

 

Top of Form Mortgage Rates
31-May-13 Last Change 15-Year Fixed Freddie 2.98% 0.21% 30-Year Fixed Freddie 3.81% 0.22% 1-Year ARM Freddie 2.54% -0.01% 5/1-Year ARM Freddie 2.66% 0.03% Bottom of Form

 

 

 

APOR

30 Yr Fixed- 3.81%

5/1 ARM -     2.66%

 

 

ECONOMIC CALENDAR

 

	Event	Actual	Cons.	Previous
May 27	Memorial Day
May 28	S&P/Case-Shiller Home Price Indices (YoY) (Mar)	10.9%	10.2%	9.3%
	Consumer Confidence (May)	76.2	71.0	69.0Revised from 68.1
	Richmond Fed Manufacturing Index (May)	-2	2	-6
	Dallas Fed Manufacturing Business Index (May)	-10.5		-15.6
	6-Month Bill Auction			0.085%
	3-Month Bill Auction			0.045%
	2-Year Note Auction			0.233%
May 29	MBA Mortgage Applications (May 24)			-9.8%
	Redbook index (YoY) (May 19)			2.4%
	Redbook index (MoM) (May 19)			0.5%
	EIA Crude Oil Stocks change (May 24)			-0.338M
	4-Week Bill Auction			0.035%
	52-week Bill auction			0.105%
	5-Year Note Auction			0.71%
	Federal Reserve Bank of Boston President Rosengren Speech
May 30	Gross Domestic Product Annualized (Q1)		2.5%	0.4%
	Gross Domestic Product Price Index (Q1)		1.2%	1.0%
	Initial Jobless Claims (May 24)		340K	340K
	Continuing Jobless Claims (May 18)		2.945M	2.912M
	Personal Consumption Expenditures Prices (QoQ) (Q1)		0.9%
	Core Personal Consumption Expenditures (QoQ) (Q1)		1.2%	1.0%
	Pending Home Sales (YoY) (Apr)		12.6%	7.0%
	Pending Home Sales (MoM) (Apr)		1.1%	1.5%
	EIA Natural Gas Storage change (May 24)			89B
	7-Year Note Auction			1.155%
May 31	Personal Spending (Apr)		0.0%	0.2%
	Core Personal Consumption Expenditure - Price Index (MoM) (Apr)		0.1%	0.0%
	Core Personal Consumption Expenditure - Prices Index (YoY) (Apr)		1.0%	1.1%
	Personal Consumption Expenditures - Price Index (MoM) (Apr)		-0.2%	-0.1%
	Personal Consumption Expenditures - Price Index (YoY) (Apr)		0.8%	1.0%
	Personal Income (MoM) (Apr)		0.1%	0.2%
	Chicago Purchasing Managers' Index (May)		50	49
	Reuters/Michigan Consumer Sentiment Index (May)		83.7	76.4
	G8 Meeting