Treasury bond prices are little changed in early morning with some longer-dated issues slipping very slightly. Today’s only data-point was released earlier by the Mortgage Bankers Association when it announced that new Mortgage Applications fell 4.2% last week after managing a 1.2% increase the week before. Applications for purchases were up 1.7% after being down by 4.1% the prior week. Refi applications fell 7.2% after getting a 4% boost the week before. The Average Thirty-Year Fixed Rate rose to 3.18% from 3.15%. Later today, the Treasury will be selling $61B Five-Year notes.
Yields haven’t changed much since yesterday’s close with the Long Bond at 2.25%, the Ten-Year at 1.56%, and the Two-Year bringing 15 basis points. Crude oil is off less-than-a-dollar to $65.70 while gold has continued to rally to $1,905. Equity futures are flashing green.