EmailBond Market Update
The market at 15:41 ET
| 10-Year: +03/32....1.763%.... GNMAs: .... USD/JPY: 80.23.... EUR/USD: 1.2723 |
Moving the Market
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MBA Mortgage Index: Actual 9.2%, prior 1.7% Housing Starts: Actual 717K, consensus 680K, prior 654K (revised 699K) Building Permits: Actual 715K, consensus 730K, prior 747K (revised 769K) Industrial Production: Actual 1.1%, consensus 0.5%, prior 0.0% (revised -0.6%) Capacity Utilization: Actual 79.2%, consensus 79.0%, prior 78.6% (revised 78.4%) FOMC Minutes |
Treasuries End Little Changed
16-May-12 15:41 ET
10-Yr: +03/32..1.763%..
USD/JPY: 80.23..
EUR/USD: 1.2723
Flat: Treasuries ended the day little changed but higher after the latest FOMC Minutes hinted the FOMC is willing to act if conditions were to deteriorate. The complex saw weakness early in the session as early selling dropped Treasuries into negative territory ahead of this morning’s data. Some better than expected numbers saw maturities across the complex slip to fractional session lows, but buying surfaced over the course of the morning as equities gave back their gains on a report the European Central Bank concluded monetary policy operations to some Greek banks. The long bond finished with a gain of 9/32 at 101 30/32 with buying dropping its yield to 2.906% where its sits just 2 bps above its closing low for 2012. Maturities across the rest of the complex were little changed as light buying dropped the 10-yr yield to 1.765%. A flatter yield curve took hold during the afternoon rally as the 2-10-yr spread narrowed to 147 bps. Elsewhere, precious metals rallied off their worst levels but finished lower with gold down $17 at $1540 and silver off $0.95 near $27.10. Thursday’s data includes initial and continuing claims (8:30), as well as the Philly Fed, and leading indicators (10). 
