March 14, 2019

Market News

Treasury prices edged lower overnight despite disappointing manufacturing data from China.   Today’s US economic calendar will include data on employment, inflation and housing.  The Weekly Jobless Claims Report showed that New Claims edged slightly higher than expected to 229k vs forecasts of 225k.  Meanwhile, both Import and Export Prices increased more than expected in February.  Both components increased +0.6% vs estimates of a +0.4% increase in Import Prices and +0.2% in Export Prices.   Lastly, investors will be also be focused on the latest Brexit extension vote and headlines on a potential late April trade meeting between the US and China.  Currently, the 10yr yield is at 2.619% (2.621% Wednesday) and the 2-10 spread is 16 bps, unchanged since yesterday morning.

Josh Pappert – VP, Capital Markets
Nations Direct Mortgage