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MBS  +1/32 @ 102.29      10 Yr Treasury -1/32 @ 2.871       Dow +54 @ 15,549

This morning, August CPI rose 0.1% from July, below the consensus for an increase of 0.2%, and it was 1.5% higher than one year ago. Core PPI also rose 0.1% from July, above the consensus for an increase of 0.2%, and was 1.8% higher than one year ago. There was little reaction to the data ahead of tomorrow's Fed statement. No more economic data will be released today.

 

Top of Form Treasuries
17-Sep-13 Last Change 3-Month T-Bill 0.01% 0.00% 6-Month T-Bill 0.04% 0.00% 1-Year T-Bill 0.10% 0.00% 2-Year Note 0.40% 0.00% 3-Year Note 0.80% -0.01% 5-Year Note 1.61% -0.01% 10-Year Note 2.86% -0.01% 30-Year Bond 3.86% -0.01%

 

Top of Form Major Indices
17-Sep-13 Last Change 11th District COFI 0.954% 0.000% 1-Month LIBOR 0.180% 0.001% 6-Month LIBOR 0.376% -0.004% 12-Month LIBOR 0.652% -0.004% MTA Index 0.149% -0.004% Prime Rate 3.25% 0.00% Federal Funds Rate 0.25% 0.00% Discount Rate 0.75% 0.00%

 

Top of Form Mortgage Rates
17-Sep-13 Last Change 15-Year Fixed Freddie 3.59% 0.00% 30-Year Fixed Freddie 4.57% 0.00% 1-Year ARM Freddie 2.67% -0.04% 5/1-Year ARM Freddie 3.22% -0.06% Bottom of Form

 

APOR (Changes Mondays)

30 Yr Fixed-  4.64%

15 Yr Fixed- 3.69%

5/1 ARM -      3.03%

7/1 ARM   -    3.36%

10/1-ARM -  3.87%

 

Economic Calendar

 

Event	Actual	Cons.	Previous
Sep 16	NY Empire State Manufacturing Index (Sep)	6.29	9.20	8.24
	Industrial Production (MoM) (Aug)	0.4%	0.4%	0.0%
	Capacity Utilization (Aug)	77.8%	77.8%	77.6%
	6-Month Bill Auction			0.035%
	3-Month Bill Auction			0.02%
Sep 17	Treasury Sec Lew Speech
	Consumer Price Index Ex Food & Energy (YoY) (Aug)		1.8%	1.7%
	Consumer Price Index (MoM) (Aug)		0.2%	0.2%
	Consumer Price Index (YoY) (Aug)		1.6%	2.0%
	Consumer Price Index Core s.a (Aug)			234.004
	Consumer Price Index Ex Food & Energy (MoM) (Aug)		0.2%	0.2%
	Consumer Price Index n.s.a (MoM) (Aug)		234.050	233.596
	Redbook index (MoM) (Sep 8)			0.3%
	Redbook index (YoY) (Sep 8)			4.6%
	Total Net TIC Flows (Jul)			$-19B
	Net Long-Term TIC Flows (Jul)		$-45.3B	$-66.9B
	NAHB Housing Market Index (Sep)		59	59
	4-Week Bill Auction			0.01%
	52-week Bill auction			0.135%
Sep 18	MBA Mortgage Applications (Sep 13)			-13.5%
	Building Permits (MoM) (Aug)		0.950M	0.954MRevised from 0.943M
	Housing Starts (MoM) (Aug)		0.917M	0.896M
	EIA Crude Oil Stocks change (Sep 13)			-0.219M
	Fed Interest Rate Decision		0.25%	0.25%
	Fed Pace of MBS Purchase Program (Sep)		$40B
	Fed Pace of Treasury Purchase Program (Sep)		$45B
	FOMC Economic Projections
	Fed's Monetary Policy Statement and press conference
Sep 19	Current Account (Q2)		$-97.0B	$-106.1B
	Initial Jobless Claims (Sep 13)		330K	292K
	Continuing Jobless Claims (Sep 6)		2.900M	2.871M
	American Petroleum Institute Monthly Report (Aug)
	Existing Home Sales Change (MoM) (Aug)		-2.6%	6.5%
	Existing Home Sales (MoM) (Aug)		5.25M	5.39M
	Philadelphia Fed Manufacturing Survey (Sep)		10.0	9.3
	EIA Natural Gas Storage change (Sep 13)			65B
	CB Leading Indicator (MoM) (Aug)		0.6%	0.6%
Sep 20	Fed's George Speech
	Fed's Bullard speech
	Fed Minneapolis's Narayana Kocherlakota speech