The Market at 15:21 ET10-Year: -7/32…2.28…EUR/USD: 1.0983USD/JPY: 123.91
Treasury Market Stands Its Ground
- -- MBA Mortgage Index for the week ending 07/25: Actual +0.8%, Prior +0.1%
- -- June Pending Home Sales: Actual -1.8%, Briefing.com Consensus 1.0%, Prior 0.6% (Revised from 0.9%)
- -- Crude Inventories for the weekending 7/25: Actual -4.203M, Prior 2.468M
- -- $35 bln 5-year note auction: High yield 1.625% , Bid-to-Cover 2.58, Indirect Bid 67.5%, Direct Bid 5.3%
- -- July FOMC Rate Decision: U.S. economic activity expanding moderately; business fixed investment and net exports stayed soft; Inflation continued to run below the Committee's longer-run objective; The Committee expects that, with appropriate policy accommodation, economic activity will expand at a moderate pace; Committee currently anticipates that, even after employment and inflation are near mandate-consistent levels, economic conditions may, for some time, warrant keeping the target federal funds rate below levels the Committee views as normal in the longer run.