Morning update and reports expected

MBS  -30/32 @ 100.22    10 Yr Treasury  -24/32 @ 2.0970      +203@ 15,507

 

A rally in stocks has hurt MBS this morning. The March S&P/Case-Shiller 20-city home price index increased 1.4% from February, and it was 10.9% higher than one year ago. The results from the 2-yr Treasury auction will come out around 1:00 et.

 

Americans' confidence in the economy jumped in May to a five-year high, lifted by a better outlook for hiring and business conditions. The Conference Board, a New York-based private research group, says its consumer confidence index rose in May to 76.2, the second straight increase. That's up from a reading of 69.0 in April and the highest since February 2008.

Top of Form Treasuries
28-May-13 Last Change 3-Month T-Bill 0.04% 0.01% 6-Month T-Bill 0.08% 0.01% 1-Year T-Bill 0.11% 0.01% 2-Year Note 0.26% 0.02% 3-Year Note 0.45% 0.03% 5-Year Note 0.95% 0.07% 10-Year Note 2.09% 0.08% 30-Year Bond 3.24% 0.07%

 

Top of Form Major Indices
28-May-13 Last Change 11th District COFI 0.967% -0.032% 1-Month LIBOR 0.190% 0.000% 6-Month LIBOR 0.415% -0.002% 12-Month LIBOR 0.684% -0.002% 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
28-May-13 Last Change 15-Year Fixed Freddie 2.77% 0.08% 30-Year Fixed Freddie 3.59% 0.08% 1-Year ARM Freddie 2.55% 0.00% 5/1-Year ARM Freddie 2.63% 0.01% Bottom of Form

 

APOR

30 Yr Fixed- 3.59%

5/1 ARM -     2.63%

 

 

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