CHM Blog

Overnight the 10 year note hit a low of 4.19% -4 bps from yesterday’s US close; the improvement was short-lived, when US trading began the 10 yield at 8:30 am ET down just 1 bp to 4.22%, by 9:30 am 4.24% +1 bp. MBS prices began the day +6 bps from yesterday, by 9:30 am -4 bps.

The BBB moving though Congress still not resolved, after the Senate passed it the bill it entered amendment territory.

Powell scheduled to talk at 9:30 am although we don’t expect anything new from him.

At 9:30 am before key data at 10 am the DJIA opened -78, NASDAQ -83, S&P -19. 10 year note at 9:30 am 4.24% +1 bp. FNMA 6.0 30 year coupon at 9:30 am -4 bps from yesterday’s close and +1 bp from 9:30 am yesterday.

At 9:45 am June PMI manufacturing index, expected at 52.0, reported 52.9.

At 10 am the key today, May JOLTS job openings, estimates were openings to have declined to 7.30 million from 7.391 million, reported at 3.293 million from upward revision in April to 3.215 million; the quits rate, a metric that measures voluntary job leavers as a proportion of total employment, ticked up to 2.1% in May from 2% in the previous month.

At 10 am the ISM June manufacturing index thought to be 48.8, reported at 49.0.

Nothing left on the calendar today. From now until Thursday morning June employment thoughts will dominate as well as the BBB moving through Congress. Tomorrow ADP will release its private jobs report, weekly jobless claims also hit tomorrow. Markets closed on Friday.

PRICES @ 10:00 AM

10 year note: 4.25% +2 bp

5 year note: 3.83% +2 bp

2 year note: 3.76% +4 bp

30 year bond: 4.78% unch

30 year FNMA 6.0: @9:30 am 101.57 -4 bp (+1 bp from 9:30 am yesterday)

30 year FNMA 6.5: @9:30 am 103.23 -2 bp (-6 bp from 9:30 am yesterday)

30 year GNMA 6.0: @9:30 am 101.37 -9 bp (-8 bp from 9:30 am yesterday)

Dollar/Yen: 143.27 -0.77 yen

Dollar/Euro: $1.1796 +$0.0006

Dollar Index: 96.62 -0.25

Gold: $3,358.00 +$50.30

Bitcoin: 106,641 -1146

Crude Oil: $65.40 +$0.29

DJIA: 44,196 +102

NASDAQ: 20,295 -75

S&P 500: 6195 -10

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.