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Author Jason Haley

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Treasury yields are modestly lower to start the day as markets exhibit a bit of headline fatigue as it relates to the Iran conflict.

President Trump announced an indefinite extension of the ceasefire, which has been dampened somewhat by reports of Iranian attacks on ships in the Strait of Hormuz. Oil prices are holding relatively steady, and equity futures are pointing to higher open for US stocks. The MBA mortgage applications index rose 7.9% last week, boosted by a 10.1% increase in new purchase applications. Refinance applications were up 5.8% last week, coinciding with a 7-basis point decline in the average 30-year conventional contract rate to 6.35% according to the survey.

Jason Haley
President & Chief Investment Officer

DateEventSurveyActualPrior
4/22/2026MBA Mortgage Applications     —7.90%1.80%
4/23/2026Chicago Fed Nat Activity Index-0.13     —-0.11
4/23/2026Initial Jobless Claims210k     —207k
4/23/2026Initial Claims 4-Wk Moving Avg     —     —209.75k
4/23/2026Continuing Claims1816k     —1818k
4/23/2026S&P Global US Manufacturing PMI52.5     —52.3
4/23/2026S&P Global US Services PMI50.5     —49.8
4/23/2026S&P Global US Composite PMI50.6     —50.3
4/23/2026Kansas City Fed Manf. Activity10     —11
4/24/2026Bloomberg April United States Economic Survey   
4/24/2026U. of Mich. Sentiment48.5     —47.6
4/24/2026U. of Mich. Current Conditions50.7     —50.1
4/24/2026U. of Mich. Expectations47.4     —46.1
4/24/2026U. of Mich. 1 Yr Inflation4.80%     —4.80%
4/24/2026U. of Mich. 5-10 Yr Inflation3.40%     —3.40%
4/24/2026Kansas City Fed Services Activity     —     —15
4/27/2026Dallas Fed Manf. Activity     —     —-0.2
4/28/2026ADP Weekly Employment Change     —     —54.750k
4/28/2026FHFA House Price Index MoM     —     —0.10%
4/28/2026S&P Cotality CS 20-City MoM SA     —     —0.16%
4/28/2026S&P Cotality CS 20-City YoY NSA     —     —1.18%
4/28/2026S&P Cotality CS US HPI YoY NSA     —     —0.91%
4/28/2026Richmond Fed Manufact. Index     —     —0
4/28/2026Richmond Fed Business Conditions     —     —2
4/28/2026Conf. Board Consumer Confidence89.8     —91.8
4/28/2026Conf. Board Present Situation     —     —123.3
4/28/2026Conf. Board Expectations     —     —70.9
4/28/2026Dallas Fed Services Activity     —     —-13.3
4/29/2026MBA Mortgage Applications     —     —7.90%
4/29/2026Retail Inventories MoM     —     —0.00%
4/29/2026Census Releases February and March Housing Starts Data   
4/29/2026Advance Goods Trade Balance-$86.9b     —-$98.5b
4/29/2026Advance Goods Imports MoM SA     —     —3.80%
4/29/2026Advance Goods Exports MoM SA     —     —-3.00%
4/29/2026Wholesale Inventories MoM     —     —0.80%
4/29/2026Housing Starts1400k     —1487k
4/29/2026Durable Goods Orders0.80%     —-1.30%
4/29/2026Building Permits1390k     —1386k
4/29/2026Durables Ex Transportation0.40%     —0.90%
4/29/2026Housing Starts MoM     —     —7.20%
4/29/2026Cap Goods Orders Nondef Ex Air     —     —0.70%
4/29/2026Building Permits MoM     —     —-4.70%
4/29/2026Cap Goods Ship Nondef Ex Air     —     —1.00%
4/29/2026FOMC Rate Decision (Upper Bound)3.75%     —3.75%
4/29/2026FOMC Rate Decision (Lower Bound)3.50%     —3.50%
4/29/2026Fed Interest on Reserve Balances Rate3.65%     —3.65%
4/29/2026Fed Reverse Repo Rate3.50%     —3.50%

Jason Haley

Chief Investment Officer

LinkedIn

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