Rates improving

MBS  +12/32 @ 100.12   10 Yr Treasury  +10/32 @ 2.5930   Dow  +131 @ 15,423

 

A speech by Fed Chief Bernanke late yesterday afternoon lifted MBS, and the rally has continued this morning. Bernanke strongly stated that Fed officials feel that highly accommodative monetary policy will be appropriate for a long time. Both stocks and bonds moved higher after the speech. Today's economic data had little impact. Weekly Jobless Claims rose to 360K, above the consensus of 340K. Import Prices declined 0.2%, below the consensus for an increase of 0.1%. The results from the 30-yr Treasury auction will come out around 1:00 et. No more economic data will be released today.

 

 

Top of Form Treasuries
11-Jul-13 Last Change 3-Month T-Bill 0.03% -0.01% 6-Month T-Bill 0.07% 0.00% 1-Year T-Bill 0.11% 0.00% 2-Year Note 0.34% 0.00% 3-Year Note 0.67% -0.03% 5-Year Note 1.40% -0.01% 10-Year Note 2.59% 0.02% 30-Year Bond 3.64% 0.03%

 

Top of Form Major Indices
11-Jul-13 Last Change 11th District COFI 0.951% -0.019% 1-Month LIBOR 0.191% -0.001% 6-Month LIBOR 0.404% -0.004% 12-Month LIBOR 0.688% -0.006% MTA Index 0.159% -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
11-Jul-13 Last Change 15-Year Fixed Freddie 3.39% -0.11% 30-Year Fixed Freddie 4.29% -0.17% 1-Year ARM Freddie 2.66% 0.00% 5/1-Year ARM Freddie 3.10% 0.02%

 

 

 

APOR

30 Yr Fixed- 4.35%

5/1 ARM -     3.02%

 

	Event	Actual	Cons.	Previous
Jul 08	3-Month Bill Auction			0.05%
	6-Month Bill Auction			0.085%
	Consumer Credit Change (May)		$12.5B	$11.1B
Jul 09	NFIB Business Optimism Index (Jun)		96.2	94.4
	Redbook index (YoY) (Jun 30)			2.9%
	Redbook index (MoM) (Jun 30)			-0.5%
	4-Week Bill Auction			0.015%
Jul 10	MBA Mortgage Applications (Jul 5)			-11.7%
	Wholesale Inventories (May)		0.3%	0.2%
	EIA Crude Oil Stocks change (Jul 5)			-10.347M
	10-Year Note Auction			2.209%
	FOMC Minutes
	Fed's Bernanke Speech
Jul 11	Import Price Index (YoY) (Jun)			-1.9%
	Export Price Index (MoM) (Jun)		-0.1%	-0.5%
	Export Price Index (YoY) (Jun)			-0.9%
	Import Price Index (MoM) (Jun)		0.1%	-0.6%
	Initial Jobless Claims (Jul 6)		340K	343K
	Continuing Jobless Claims (Jul 29)		2.953M	2.933M
	EIA Natural Gas Storage change (Jul 5)			72B
	30-Year Bond Auction			3.355%
	Monthly Budget Statement (Jun)		$40B	$-139B
Jul 12	Philadelphia Fed's Plosser speech
	Producer Price Index (YoY) (Jun)			1.7%
	Producer Price Index (MoM) (Jun)		0.4%	0.5%
	Producer Price Index ex Food & Energy (MoM) (Jun)		0.1%	0.1%
	Producer Price Index ex Food & Energy (YoY) (Jun)			1.7%
	Reuters/Michigan Consumer Sentiment Index (Jul) Preliminar		85.0	84.1
	Fed's Bullard speech