March 18, 2019

Market News

Treasury prices edged lower over the weekend despite reports that a trade meeting between the US and China will be delayed until June.  Overseas data was uneventful and today’s US economic calendar is limited to the 10AM release of the NAHB Housing Market Index.   Key activity is slow to start the week but heats up with Wednesday’s FOMC Meeting Announcement followed by the Philly Fed Index on Thursday and Existing Home Sales on Friday.  Economists do not expect a Fed rate increase on Wednesday but will be looking for indications on whether another increase is likely later this year.   Currently, the 10yr yield is at 2.603% (2.594% Friday) and the 2-10 spread is 15 bps, unchanged since Friday morning.

Josh Pappert – VP, Capital Markets
Nations Direct Mortgage