Market update and reports

MBS  +4/32 @ 101.103      10 Yr Treasury  +3/32 @ 2.7110          Dow +22@ 15,844

 

Late yesterday, MBS moved higher after the release of dovish testimony from the Fed's Yellen, the nominee to be the next Fed Chief. She will be testifying at her confirmation hearing later today. There was little reaction to today's economic data. Weekly Jobless Claims were little changed at 339K, above the consensus of 330K. The Trade Deficit was larger than expected at $41.8B. Third quarter Productivity declined to 1.9%, which was close to the consensus. No more economic data will be released today. The results from the 30-yr Treasury auction will come out around 1:00 et.

 

 

 

Treasuries 14-Nov-13 Last Change 3-Month T-Bill 0.07% 0.00% 6-Month T-Bill 0.09% 0.00% 1-Year T-Bill 0.14% 0.01% 2-Year Note 0.31% 0.01% 3-Year Note 0.60% 0.03% 5-Year Note 1.38% 0.04% 10-Year Note 2.73% 0.02% 30-Year Bond 3.80% -0.01%       Major Indices 14-Nov-13 Last Change 11th District COFI 0.957% 0.001% 1-Month LIBOR 0.168% 0.000% 6-Month LIBOR 0.354% -0.001% 12-Month LIBOR 0.588% -0.004% MTA Index 0.139% -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   14-Nov-13 Last Change 15-Year Fixed Freddie 3.27% 0.07% 30-Year Fixed Freddie 4.16% 0.06% 1-Year ARM Freddie 2.61% -0.03% 5/1-Year ARM Freddie 2.96% 0.00%

 APOR (Changes Mondays)

30 Yr Fixed-  4.23%

15 Yr Fixed- 3.37%

5/1 ARM -      2.93%

7/1 ARM   -    3.25%

10/1-ARM -  3.76%

 

Economic Calendar

	Event		Actual	Cons.	Previous
Nov 11	Veterans Day
Nov 12	NFIB Business Optimism Index (Oct)		91.6	93.5	93.9
	Chicago Fed National Activity Index (Sep)		0.14		0.13Revised from 0.14
	Redbook index (YoY) (Nov 3)		3.3%		3.8%
	Redbook index (MoM) (Nov 3)		-0.8%		-1.2%
	3-Month Bill Auction				0.05%
	6-Month Bill Auction				0.085%
	3-Year Note Auction				0.71%
Nov 13	MBA Mortgage Applications (Nov 8)				-7%
	4-Week Bill Auction				0.05%
	52-week Bill auction				0.16%
	10-Year Note Auction				2.657%
	Monthly Budget Statement (Sep)			$-104.00B	$75.07B
	Fed's Bernanke Speech
Nov 14	Initial Jobless Claims				336K
	Continuing Jobless Claims				2.868M
	Nonfarm Productivity (Q3) Preliminar			1.8%	2.3%
	Trade Balance (Oct)			$-38.9B	$-38.8B
	Unit Labor Costs (Q3) Preliminar			0%	0%
	FOMC Member Yellen Speech
	EIA Natural Gas Storage change				35B
	EIA Crude Oil Stocks change (Nov 8)				1.577M
	30-Year Bond Auction				3.758%
Nov 15	Export Price Index (YoY) (Oct)				-1.6%
	Export Price Index (MoM) (Oct)			0.0%	0.3%
	Import Price Index (MoM) (Oct)			-0.2%	0.2%
	Import Price Index (YoY) (Oct)				-1%
	NY Empire State Manufacturing Index (Nov)			4.00	1.52
	Industrial Production (MoM) (Oct)			0.2%	0.6%
	Capacity Utilization (Oct)			78.3%	78.3%
	Wholesale Inventories (Sep)			0.4%	0.5%