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Bond Market Update

  • The Market at 15:20 ET

    10-Year: Unchanged…2.12…EUR/USD: 1.1072USD/JPY: 1.1976

    Treasury Market Stands Its Ground

    • - MBA Mortgage Index for week ending 2/28: Actual 0.1%, prior -3.5%
    • - February ADP Employment Change: Actual 212K, consensus 220K, prior 250K (revised from 213K)
    • - Chicago Fed President Evans (FOMC voter): Thinks that Fed shouldn't raise rates until next year. "I see no compelling reason for us to be in a hurry to tighten financial conditions before [inflation reaches 2%]"
    • - February ISM Services: Actual 56.9, consensus 56.5, prior 56.7
    • - Fed's Beige Book for March (14:00 ET)