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MBS  -4/32 @ 99.27                    10 Yr Treasury  -4/32 @ 2.231          -82@ 15156

 

While investors expect the Fed to taper its bond purchases at some point, this morning they must consider that less stimulus than previously expected may be coming from the Bank of Japan (BOJ) and the European Central Bank (ECB). Following the BOJ meeting, no action was taken, disappointing some investors hoping for new measures. In addition, the ECB President stated that the ECB will not accept higher inflation and that intervention in bond markets will take place in only limited situations. Both global stock markets and global bond markets were hurt by the news. No economic data will be released today. The results from the 3-yr Treasury auction will come out around 1:00 et.

Top of Form Treasuries
11-Jun-13 Last Change 3-Month T-Bill 0.04% 0.00% 6-Month T-Bill 0.07% 0.00% 1-Year T-Bill 0.13% 0.01% 2-Year Note 0.33% 0.02% 3-Year Note 0.56% 0.02% 5-Year Note 1.16% 0.04% 10-Year Note 2.24% 0.03% 30-Year Bond 3.37% 0.00%

 

Top of Form Major Indices
11-Jun-13 Last Change 11th District COFI 0.970% 0.003% 1-Month LIBOR 0.193% 0.000% 6-Month LIBOR 0.411% 0.000% 12-Month LIBOR 0.685% 0.002% 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
11-Jun-13 Last Change 15-Year Fixed Freddie 3.03% 0.05% 30-Year Fixed Freddie 3.91% 0.10% 1-Year ARM Freddie 2.58% 0.04% 5/1-Year ARM Freddie 2.74% 0.08%

 

APOR

30 Yr Fixed- 3.91%

5/1 ARM -     2.74%

 

Economic Calendar Event Actual Cons. Previous Jun 10 Fed's Bullard speech Jun 11 NFIB Business Optimism Index (May) 93.4 92.1   Redbook index (YoY) (Jun 2) 2.9%   Redbook index (MoM) (Jun 2) 0.6%   Wholesale Inventories (Apr) 0.3% 0.4% Jun 12 MBA Mortgage Applications (Jun 7) -11.5%   EIA Crude Oil Stocks change (Jun 7) -6.267M   10-Year Note Auction 1.81%   Monthly Budget Statement (May) 112.9B Jun 13 Export Price Index (YoY) (May) -0.9%   Export Price Index (MoM) (May) -0.2% -0.7%   Import Price Index (MoM) (May) 0.0% -0.5%   Import Price Index (YoY) (May) -2.6%   Initial Jobless Claims (Jun 7) 346K   Continuing Jobless Claims (Jun 1) 2.952M   Retail Sales (MoM) (May) 0.4% 0.1%   Retail Sales ex Autos (MoM) (May) 0.3% -0.1%   Business Inventories (Apr) 0%   EIA Natural Gas Storage change (Jun 7) 111B   30-Year Bond Auction 2.98% Jun 14 Current Account (Q1) $-110.4B   Producer Price Index (YoY) (May) 0.6%   Producer Price Index (MoM) (May) -0.7%   Producer Price Index ex Food & Energy (MoM) (May) 0.1%   Producer Price Index ex Food & Energy (YoY) (May) 1.7%   Industrial Production (MoM) (May) -0.5%   Capacity Utilization (May) 77.8%   Reuters/Michigan Consumer Sentiment Index (Jun) Preliminar 84.5