CHM Blog

The 10 year note yield at 9 am 4.02% +6 bps, MBS prices -18 bps. Stock indexes in futures trading prior to the 9:30 am open traded lower. The equity markets have a great run, hearing increasing comments that while stocks have climbed, corporate profits have fallen. Companies in the S&P 500 are set to log a roughly 7% year-over-year decline in earnings for the second quarter, according to a FactSet. Not news but maybe the market will take note?

The Fed still in play with split outlooks, some think the Fed is finished increasing rates as inflation continues to decline, others build a case for one or two more increases.

At 9:30 am the DJIA opened -13, NASDAQ -79, S&P -15. 10 year at 9:30 am 4.03% +7 bps. MBS prices -32 bps and -30 bps from 9:30 am yesterday.

At 9:45 am July PMI manufacturing final index expected at 49.0, reported at 49.0.

At 10 am June JOLTS job openings declined to 9.582 mil against forecasts of 9.560 mil and less than 9.616 in May. June construction spending thought to be +0.6% increased 0.5%. July ISM manufacturing index expected at 46.5 reported at 46.4 and from 46.0 in June. The index has been in contraction since April 2021.

PRICES @ 10:00 AM

10 year note: 4.05% +9 bp

5 year note: 4.24% +5 bp

2 year note: 4.92% +6 bp

30 year bond: 4.09% +8 bp

SOFR Data 08/01: 30-DAY AVERAGE(%): 5.10884, 90-DAY AVERAGE(%): 5.09929, 180-DAY AVERAGE(%): 4.92801, INDEX: 1.09020897

30 year FNMA 6.0: @9:30 am 100.36 +5 bp (-14 bp from 9:30 am yesterday)

30 year FNMA 5.5: @9:30 am 98.97 -2 bp (-34 bp from 9:30 am yesterday)

30 year GNMA 5.5: @9:30 am 99.06 unch (-34 bp from 9:30 am yesterday)

Dollar/Yuan: $7.1691 +$0.0258

Dollar/Yen: 143.13 +0.86 yen

Dollar/Euro: $1.0978 -$0.0020

Dollar Index: 102.27 +0.42

Gold: $1982.40 -$26.80

Bitcoin: 28,8871 -309

Crude Oil: $81.02 -$0.75

DJIA: 35,645 +89

NASDAQ: 14,271 -75

S&P 500: 4579 -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.