CHM Blog

After a gangbuster week last week, markets taking a breather this morning. Early trade in the equity market, a little better at 8:30 am ET but also after the DJAA increased 1,819 last week some consolidation isn’t unusual. Treasury futures dipped at the start of the overnight session, seeing a bit more pressure as the night went on. The market reached lows shortly after the start of the European session, followed by a slight uptick over the past couple hours according to the Briefing.

There are no first-tier economic releases this week. In terms of market-moving news the war in Israel, the movement in equities and Treasury auctions, $330B of various tranches; $48B of 3’s on Tuesday, $40B of new 10 year notes on Wednesday, $24B of new 30s on Thursday. With the now universal belief the Fed and other central banks are finished increasing rates the demand for treasuries will get attention.

Reprising last week: The 10 year note yield down 31 bps to 4.52%, the 2 year note -15 bps; FNMA 6.5 30 year coupon +150 bps The DJIA +1,819, NASDAQ +835, S&P +241. Gold declined $17.00, crude oil down $3.82. The dollar index plummeted 1.47, Bitcoin increased 867.

At 9:30 am the DJIA opened +90, NASDAQ +45, S&P +13. 10 year note at 9:30 am 4.62% +10 bps. FNMA 6.5 30 year coupon at 9:30 am -22 bps from Friday’s close and -31 bps from 9:30 am Friday.

PRICES @ 10:00 AM

10 year note: 4.62% +10 bps

5 year note: 4.57% +9 bps

2 year note: 4.91% +4 bps

30 year bond: 4.81% +11 bps

30 year FNMA 7.0: @9:30 am 102.27 -12 bps (+6 bps from 9:30 am Friday)

30 year FNMA 6.5: @9:30 am 100.70 -22 bps (-31 bps from 9:30 am Friday)

30 year FNMA 6.0: @9:30 am 98.94 -26 bps 9-41 bps from 9:30 am Friday)

30 year GNMA 6.0: @9:30 am 99.54 -29 bps (-37 bps from 9:30 am Friday)

Dollar/Yuan: $7.2703 -$0.0308

Dollar/Yen: 149.76 +0.38 yen

Dollar/Euro: $1.0737 +$0.0006

Dollar Index: 105.00 -0.02

Gold: $1992.50 -$6.70

Bitcoin: 35,208 +570

Crude Oil: $81.74 +$1.23

DJIA: 34.071 +10

NASDAQ: 13,523 +46

S&P 500: 4366 +8

Richard Sardella has been actively managing and providing services in the mortgage industry for over 30 years. Richard serves on the board of directors as President of Colorado Home Mortgages Inc.

All information furnished has been forwarded to you and is provided by thetbwsgroup only for informational purposes. Forecasting shall be considered as events which may be expected but not guaranteed. Neither the forwarding party and/or company nor thetbwsgroup assume any responsibility to any person who relies on information or forecasting contained in this report and disclaims all liability in respect to decisions or actions, or lack thereof based on any or all of the contents of this report.

MLO of record MLO.100007700 / NMLS#233568 / CHM NMLS#127716.