More on today's market and rates better

MBS  +21/32 @ 100.19                10 Yr Treasury  +22/32 @ 2.5280        +117@ 14877

 

Weaker than expected GDP data and comments from a Fed official have lifted MBS this morning. First quarter GDP was expected to remain at 2.4%, but it was revised lower to 1.8%. Prior to the financial crisis, GDP growth averaged around 3.0%. While Fed forecasts include stronger growth later in the year, the weak first quarter data might delay the tapering of the Fed's bond purchases. The Fed's Kocherlakota said that the increase in bond yields since the Fed meeting has been "outsized". No more economic data will be released today. The results from the 5-yr Treasury auction will come out around 1:00 et.

 

Top of Form Treasuries
26-Jun-13 Last Change 3-Month T-Bill 0.04% 0.00% 6-Month T-Bill 0.08% 0.01% 1-Year T-Bill 0.16% 0.03% 2-Year Note 0.39% -0.04% 3-Year Note 0.70% -0.05% 5-Year Note 1.42% -0.07% 10-Year Note 2.54% -0.07% 30-Year Bond 3.58% -0.05%

 

Top of Form Major Indices
26-Jun-13 Last Change 11th District COFI 0.970% 0.003% 1-Month LIBOR 0.195% 0.001% 6-Month LIBOR 0.422% -0.001% 12-Month LIBOR 0.698% -0.003% MTA Index 0.163% -0.006% Prime Rate 3.25% 0.00% Federal Funds Rate 0.25% 0.00% Discount Rate 0.75% 0.00%

 

Top of Form Mortgage Rates
26-Jun-13 Last Change 15-Year Fixed Freddie 3.04% -0.06% 30-Year Fixed Freddie 3.93% -0.05% 1-Year ARM Freddie 2.57% -0.01% 5/1-Year ARM Freddie 2.79% 0.00%

 

 

APOR

30 Yr Fixed- 4.00%

5/1 ARM -     2.89%

 

 

	Event	Actual	Cons.	Previous
Jun 24	Chicago Fed National Activity Index (May)	-0.30		-0.52Revised from -0.53
	Fed's William Dudley speech
	Dallas Fed Manufacturing Business Index (Jun)	6.5		-10.5
Jun 25	Durable Goods Orders (May)		1.8%	3.3%
	Durable Goods Orders ex Transportation (May)		0.1%	1.3%
	Redbook index (YoY) (Jun 16)			2.9%
	Redbook index (MoM) (Jun 16)			-0.4%
	Housing Price Index (MoM) (May)			1.3%
	S&P/Case-Shiller Home Price Indices (YoY) (Apr)		10.7%	10.9%
	Consumer Confidence (Jun)		76.6	76.2
	New Home Sales (MoM) (May)		0.460M	0.454M
	New Home Sales Change (MoM) (May)			2.3%
	Richmond Fed Manufacturing Index (Jun)			-2
Jun 26	MBA Mortgage Applications (Jun 21)			-3.3%
	Gross Domestic Product Annualized (Q1)		2.4%	2.4%
	Gross Domestic Product Price Index (Q1)		1.2%	1.0%
	Personal Consumption Expenditures Prices (QoQ) (Q1)		1%	1%
	Core Personal Consumption Expenditures (QoQ) (Q1)		1.3%	1.3%
	EIA Crude Oil Stocks change (Jun 21)			0.313M
Jun 27	Initial Jobless Claims			354K
	Continuing Jobless Claims			2.951M
	Personal Spending (May)			-0.2%
	Core Personal Consumption Expenditure - Price Index (MoM) (May)			0%
	Core Personal Consumption Expenditure - Price Index (YoY) (May)			1.1%
	Personal Consumption Expenditures - Price Index (MoM) (May)			-0.3%
	Personal Consumption Expenditures - Price Index (YoY) (May)			0.7%
	Personal Income (MoM) (May)		0.2%	0.0%
	Pending Home Sales (YoY) (May)			10.3%
	Pending Home Sales (MoM) (May)			0.3%
	EIA Natural Gas Storage change			91B
Jun 28	Chicago Purchasing Managers' Index (Jun)		55.0	58.7
	Reuters/Michigan Consumer Sentiment Index (Jun)			84.5