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Bond Markets Improved Slightly After 10am Data
Posted to: Micro News
Tuesday, March 25, 2014 10:18 AM
Compared to the potential movement associated with the two 10am economic releases, we're not seeing much, but the little that's shown up has been mostly positive. Here's a run-down of the data:
Consumer Confidence (March)
- 82.3 vs 78.6 forecast, 78.3 previously, highest since jan 2008
- Present Situation 80.4 vs 81.0 in Feb
- Expectations 83.5 vs 76.5 in Feb
- Labor Differential ("jobs hard to get" minus "jobs plentiful") 19.9 vs 19.0 previously (higher = worse for labor market)
New Home Sales (Feb)
- 440k annual rate vs 445k forecast
- Northeast -32.4 pct, midwest +36.7 pct, south -1.5, west -15.9
- Supply up to 5.2 months from 5.0 months
- Prices fell 1.2 pct from Feb 2013.
10yr yields are down to 2.743 from 2.76 before the data and MBS have added 3 ticks to move up to 103-27 in Fannie 4.0s.
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