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Weekly Calendar and Market News

Today

There were no major economic releases today.  However, we did see the 10YR Treasury yield jump above 3.00% for the first time in more than two years this morning as the yield hit 3.009%.  Have a great weekend!

Currently the 10YR Treasury is at 2.987and FNMA 4.0’s are + 4/32.

US 10-year yield highest in over 2 years - U.S. benchmark Treasury yields rose above 3 percent to their highest level in more than two years on Friday as traders pared their bond holdings in preparation for the Federal Reserve buying fewer bonds in 2014.

U.S. manufacturing, housing data buoy economic outlook - Orders for long-lasting U.S. manufactured goods surged in November and a gauge of planned business spending on capital goods recorded its largest increase in nearly a year, pointing to sustained strength in the economy.

US mortgage applications fall as refinance hits 5-year low: MBA - Applications for U.S. home mortgages fell for a second week and hit a 13-year low as mortgage rates rose due to a bond market sell-off following the Federal Reserve's decision to pare its bond purchase stimulus in January, an industry group said on Tuesday.

Bond Market Price Trend

Weekly Calendar

Date	ET	Release	For	Actual	Consensus	Prior	Revised From
23-Dec	8:30	Personal Income	Nov	0.20%	0.50%	-0.10%
23-Dec	8:30	Personal Spending	Nov	0.50%	0.50%	0.40%	0.30%
23-Dec	8:30	PCE Prices - Core	Nov	0.10%	0.10%	0.10%
23-Dec	9:55	Michigan Sentiment - Final	Dec	82.5	83.3	82.5
24-Dec	7:00	MBA Mortgage Index	21-Dec	-6.30%	NA	-5.50%
24-Dec	8:30	Durable Orders	Nov	3.50%	2.20%	-0.70%	-1.60%
24-Dec	8:30	Durable Goods –ex transportation	Nov	1.20%	0.60%	0.70%	0.40%
24-Dec	9:00	FHFA Housing Price Index	Oct	0.50%	NA	0.20%	0.30%
24-Dec	10:00	New Home Sales	Nov	464K	433K	474K	444K
26-Dec	8:30	Initial Claims	21-Dec	338K	350K	380K	379K
26-Dec	8:30	Continuing Claims	14-Dec	2923K	2850K	2877K	2884K
27-Dec	10:30	Natural Gas Inventories	21-Dec	177 bcf	NA	-285 bcf
27-Dec	11:00	Crude Inventories	21-Dec		NA	-2.941M

Next Week’s Calendar

Date	ET	Release	For
30-Dec	10:00	Pending Home Sales	Nov
31-Dec	9:00	Case-Shiller 20-city Index	Oct
31-Dec	9:45	Chicago PMI	Dec
31-Dec	10:00	Consumer Confidence	Dec
2-Jan	8:30	Initial Claims	28-Dec
2-Jan	8:30	Continuing Claims	21-Dec
2-Jan	10:00	Construction Spending	Nov
2-Jan	10:00	ISM Index	Dec
2-Jan	10:30	Natural Gas Inventories	28-Dec
3-Jan	11:00	Crude Inventories	28-Dec
3-Jan	14:00	Auto Sales	Dec
3-Jan	14:00	Truck Sales	Dec

Coldwell Banker Ontario Updates: Find out if you're ready for homeownership

Coldwell Banker Ontario Updates: Find out if you're ready for homeownership: ...

U.S. jobless claims fall, holiday retail sales rise: Thomson Reuters

U.S. jobless claims fall, holiday retail sales rise: Thomson Reuters

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Weekly Calendar and Market News

 

Today

 

Housing starts increased 22.7% in November, from 889k in October to 1.091mm.  This was the biggest monthly percentage gain since January 1990 and the first time since March that starts have ticked about the million mark.  Look for the FOMC announcement late today.  With 55% of people thinking the Fed will start tapering its bond purchases in December or January, things should get interesting after the announcement. 

 

Currently the 10YR Treasury is at 2.883 and FNMA 4.0’s are - 4/32.

 

U.S. Housing Starts Jump to Highest Level in Five Years - The pace of home construction reached a more than five-year high in November amid broad-based gains as builders boosted inventory to keep pace with demand.

 

Fed faces tough call on bond buying as economy strengthens - The Federal Reserve will decide on Wednesday whether the U.S. economy is finally resilient enough to withstand less policy support, or whether it is prudent to wait a bit longer.

 

Fed taper expected sooner: CNBC survey - Wall Street has tightened its view of Federal Reserve policy in the months ahead and is now looking on average for the taper, or reduction in Fed stimulus to the economy, to come in February, according to the CNBC Fed Survey for December.

 

 

Bond Market Price Trend

 

 

Weekly Calendar

 

Date	ET	Release	For	Actual	Consensus	Prior	Revised From
16-Dec	8:30	Empire Manufacturing	Dec	1	5	-2.2
16-Dec	8:30	Productivity-Rev.	Q3	3.00%	2.70%	1.90%
16-Dec	8:30	Unit Labor Costs	Q3	-1.40%	-1.30%	-0.60%
16-Dec	9:00	Net Long-Term TIC Flows	Oct	$35.4B	NA	$31.3B	$25.5B
16-Dec	9:15	Industrial Production	Nov	1.10%	0.40%	0.10%	-0.10%
16-Dec	9:15	Capacity Utilization	Nov	79.00%	78.40%	78.20%	78.10%
17-Dec	8:30	CPI	Nov	0.00%	0.10%	-0.10%
17-Dec	8:30	Core CPI	Nov	0.20%	0.10%	0.10%
17-Dec	8:30	Current Account Balance	Q3	-$94.8B	-$101.0B	-$96.6B	-$98.9B
17-Dec	10:00	NAHB Housing Market Index	Dec	58	55	54
18-Dec	7:00	MBA Mortgage Index	14-Dec	-5.50%	NA	1.00%
18-Dec	8:30	Housing Starts	Sep	873K	915K	883K	891K
18-Dec	8:30	Housing Starts	Oct	889K	920K	873K
18-Dec	8:30	Housing Starts	Nov	1091K	950K	889K
18-Dec	8:30	Building Permits	Nov	1007K	983K	1039K	1034K
18-Dec	10:30	Crude Inventories	14-Dec	-2.941M	NA	-10.585M
18-Dec	14:00	FOMC Rate Decision	Dec		0.25%	0.25%
19-Dec	8:30	Initial Claims	14-Dec		333K	368K
19-Dec	8:30	Continuing Claims	7-Dec		2760K	2791K
19-Dec	10:00	Existing Home Sales	Nov		5.00M	5.12M
19-Dec	10:00	Philadelphia Fed	Dec		5	6.5
19-Dec	10:00	Leading Indicators	Nov		0.60%	0.20%
19-Dec	10:30	Natural Gas Inventories	14-Dec		NA	-81 bcf
20-Dec	8:30	GDP - Third Estimate	Q3		3.60%	3.60%
20-Dec	8:30	GDP Deflator - Third Estimate	Q3		2.00%	2.00%