Market updates and reports

MBS  -3/32 @ 100.24      10 Yr Treasury  -3/32 @ 2.8180        Dow +85 @ 15,986

 

Stronger than expected Jobless Claims data hurt MBS this morning. Weekly Jobless Claims declined to 323K, below the consensus of 335K. October PPI inflation fell 0.2% from September, matching the consensus, and it was a slim 0.3% higher than one year ago. Core PPI, which excludes food and energy, increased 0.2%, slightly above the consensus. Core PPI was just 1.4% higher than one year ago.

 

Factory activity in the U.S. mid-Atlantic region slowed in November, dropping to its lowest since May, a survey showed on Thursday. The Philadelphia Federal Reserve Bank said its business activity index dropped to 6.5 in the latest month, from 19.8 in October. This month's figure was well below economist expectations for a reading of 15.0.

 

Treasuries
21-Nov-13 Last Change 3-Month T-Bill 0.08% 0.00% 6-Month T-Bill 0.10% 0.00% 1-Year T-Bill 0.12% 0.00% 2-Year Note 0.28% 0.00% 3-Year Note 0.57% 0.00% 5-Year Note 1.39% 0.01% 10-Year Note 2.82% 0.01% 30-Year Bond 3.92% -0.01%

 

Major Indices
21-Nov-13 Last Change 11th District COFI 0.957% 0.001% 1-Month LIBOR 0.166% -0.001% 6-Month LIBOR 0.347% -0.003% 12-Month LIBOR 0.576% -0.008% 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%

 

Mortgage Rates
21-Nov-13 Last Change 15-Year Fixed Freddie 3.35% 0.08% 30-Year Fixed Freddie 4.35% 0.19% 1-Year ARM Freddie 2.61% 0.00% 5/1-Year ARM Freddie 3.01% 0.05%

 

 APOR (Changes Mondays)

30 Yr Fixed-  4.41%

15 Yr Fixed- 3.45%

5/1 ARM -     2.95%

7/1 ARM   -   3.29%

10/1-ARM -  3.82%

 

Economic Calendar

Event	Actual	Cons.	Previous
Nov 18	Net Long-Term TIC Flows (Sep)	$25.5B	$21.3B	$-9.8BRevised from $-8.9B
	Total Net TIC Flows (Sep)	$-106.8B		$-13.8BRevised from $-2.9B
	NAHB Housing Market Index (Nov)	54	55	54Revised from 55
	6-Month Bill Auction			0.095%
	3-Month Bill Auction			0.075%
	Fed's William Dudley speech
	Philadelphia Fed's Plosser speech
	Fed's William Dudley speech
	Fed Minneapolis's Narayana Kocherlakota speech
Nov 19	Employment cost index (Q3)		0.5%	0.5%
	Treasury Sec Lew Speech
	Redbook index (YoY) (Nov 10)			3.3%
	Redbook index (MoM) (Nov 10)			-0.8%
	4-Week Bill Auction			0.06%
	Fed's Evans Speech
	Fed's Bernanke Speech
Nov 20	MBA Mortgage Applications (Nov 15)			-0.5%
	Consumer Price Index (YoY) (Oct)		1.1%	1.2%
	Consumer Price Index (MoM) (Oct)		0.0%	0.2%
	Consumer Price Index Core s.a (Oct)			234.59
	Consumer Price Index Ex Food & Energy (MoM) (Oct)		0.1%	0.1%
	Consumer Price Index Ex Food & Energy (YoY) (Oct)		1.7%	1.7%
	Consumer Price Index n.s.a (MoM) (Oct)		233.65	234.15
	Retail Sales (MoM) (Oct)		0.1%	-0.1%
	Retail Sales ex Autos (MoM) (Oct)		0.1%	0.4%
	Business Inventories (Sep)		0.4%	0.3%
	Existing Home Sales (MoM) (Oct)		5.15M	5.29M
	Existing Home Sales Change (MoM) (Oct)		-2.6%	-1.9%
	EIA Crude Oil Stocks change (Nov 15)			2.64M
	Fed's Bullard speech
	FOMC Minutes
Nov 21	Initial Jobless Claims (Nov 15)		335K	339K
	Continuing Jobless Claims (Nov 8)		2.863M	2.874M
	Producer Price Index (YoY) (Oct)		0.3%	0.3%
	Producer Price Index (MoM) (Oct)		-0.2%	-0.1%
	Producer Price Index ex Food & Energy (MoM) (Oct)		0.1%	0.1%
	Producer Price Index ex Food & Energy (YoY) (Oct)		1.3%	1.2%
	Markit Manufacturing PMI (Nov) Preliminar		52.4	51.8
	American Petroleum Institute Monthly Report (Oct)
	EIA Natural Gas Storage change (Nov 15)			20B
	Philadelphia Fed Manufacturing Survey (Nov)		15.5	19.8
	Fed's Lacker speech
	Fed's Bullard speech
Nov 22	Fed's George Speech
	Kansas Fed manufacturing activity (Nov)			14