More on the market open (rates off a little) and upcoming reports

MBS  -20/32 @ 102.14      10 Yr Treasury -27/32 @ 2.8920    Dow +85 @ 14,895

 

The US did not launch a military strike in Syria over the weekend, causing investors to partially reverse the flight to safety trade. This has helped stocks and hurt bonds. Stronger than expected ISM Manufacturing data hurt MBS. The U.S. manufacturing sector grew last month at its fastest pace in more than two years, bolstering expectations for faster overall U.S. growth in the second half of the year, an industry report showed on Tuesday.

 

Top of Form Treasuries
3-Sep-13 Last Change 3-Month T-Bill 0.02% 0.00% 6-Month T-Bill 0.05% 0.00% 1-Year T-Bill 0.12% 0.01% 2-Year Note 0.41% 0.01% 3-Year Note 0.81% 0.02% 5-Year Note 1.68% 0.03% 10-Year Note 2.84% 0.05% 30-Year Bond 3.77% 0.07%

 

Top of Form Major Indices
3-Sep-13 Last Change 11th District COFI 0.954% 0.003% 1-Month LIBOR 0.180% 0.000% 6-Month LIBOR 0.394% 0.001% 12-Month LIBOR 0.669% 0.002% MTA Index 0.153% -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
3-Sep-13 Last Change 15-Year Fixed Freddie 3.54% -0.06% 30-Year Fixed Freddie 4.51% -0.07% 1-Year ARM Freddie 2.64% -0.03% 5/1-Year ARM Freddie 3.24% 0.03%

 

 

APOR (Changes Mondays)

30 Yr Fixed-  4.57%

15 Yr Fixed- 3.64%

5/1 ARM -      3.04%

7/1 ARM   -    3.37%

10/1-ARM -  3.86%

 

Economic Calendar

	Event	Actual	Cons.	Previous
Sep 02	Labor Day
Sep 03	Markit Manufacturing PMI (Aug)	53.1	54.0	53.7
	Construction Spending (MoM) (Jul)	0.6%	0.3%	0.0%Revised from -0.6%
	ISM Manufacturing PMI (Aug)	55.7	54.0	55.4
	ISM Prices Paid (Aug)	54	52	49
	IBD/TIPP Economic Optimism (MoM) (Sep)		46.2	45.1
	3-Month Bill Auction			0.04%
	6-Month Bill Auction			0.065%
Sep 04	MBA Mortgage Applications (Aug 30)			-4.7%
	Challenger Job Cuts (YoY) (Aug)			37.701K
	Trade Balance (Jul)		$-38.70B	$-34.22B
	Redbook index (MoM)			0.3%
	Redbook index (YoY)			3.8%
	ISM New York index (Aug)			67.8
	4-Week Bill Auction			0.04%
	Fed's William Dudley speech
	Fed's Beige Book
	Total Vehicle Sales (Aug)		15.8B	15.7M
	Fed Minneapolis's Narayana Kocherlakota speech
Sep 05	G20 Meeting
	ADP Employment Change (Aug)		187K	200K
	Initial Jobless Claims (Aug 30)		330K	331K
	Continuing Jobless Claims (Aug 24)			2.989M
	Nonfarm Productivity (Q2)		1.4%	-1.7%
	Unit Labor Costs (Q2)		1.0%	-4.2%
	Fed Minneapolis's Narayana Kocherlakota speech
	Factory Orders (MoM) (Jul)		-3.5%	1.5%
	ISM Non-Manufacturing PMI (Aug)		55.2	56.0
	EIA Natural Gas Storage change (Aug 30)			67B
	EIA Crude Oil Stocks change (Aug 30)			2.986M
Sep 06	G20 Meeting
	Fed's Evans Speech
	Average Hourly Earnings (MoM) (Aug)		0.2%	-0.1%
	Average Hourly Earnings (YoY) (Aug)		2.0%	1.9%
	Average Weekly Hours (Aug)		34.4	34.4
	Nonfarm Payrolls (Aug)		181K	162K
	Unemployment Rate (Aug)		7.4%	7.4%
	Fed's George Speech