Nations Direct Mortgage will be closing early today at 3 PM PST for our Holiday Party. Locking is still available standard hours, until 7 PM PST. Thank you for understanding and Happy Holidays!
Treasury prices moved modestly higher overnight as disappointing data from both Asia and Europe helped spark a bid. Today’s US economic calendar includes a couple of noteworthy reports on retail sales and manufacturing. The November Retail Sales Report exceeded expectations on both a headline (+0.2% actual vs +0.1% est) and core basis (+0.5% actual vs +0.4% est) and the November Industrial Production Report is due up next at 9:15AM ET. Looking ahead to next week, the midweek FOMC Meeting and the looming Dec 21st government shutdown deadline will likely be a focus for investors ahead of the holidays. Currently, the 10yr yield is at 2.888% (2.902% Thursday) and the 2-10 spread is 14 bps, 1 bps steeper since yesterday morning.