CHM Blog

This week the scheduled economic releases are less troubling for traders than last week, no employment numbers or direct reads on inflation. Next week the Jackson Hole Economic Forum on the 27th, its unlikely the Fed will say anything of consequence until the meeting. This Wednesday the FOMC minutes from July 29th, the minutes won’t carry a lot of detail with Kevin Warsh insisting on less Fed input wanting markets to lead not the Fed.

This week’s Calendar:

• Monday:

August Empire State manufacturing index expected at 10.0, the index jumped to 20.6, August NAHB housing market index, estimates at 33, reported at 35.

• Tuesday:

July housing starts and permits (starts 1.354 million from 1.427, permits 1.370 million from 1.357 million); July import and export prices (imports month/month +0.1%, exports month/month 0.0%), July industrial production +0.3%, capacity utilization (76.3% from 76.1%); July pending home sales (+1.4% after falling 5.4% in June).

• Wednesday:

Weekly MBA mortgage applications, FOMC minutes.

• Thursday:

Weekly jobless claims (211K from 209K).

• Friday:

August FLASH manufacturing and service sector indexes (manufacturing 53.7 from 53.9, service sector 53.8 from 54.6)

PRICES @ 10:00 AM

10 year note: 4.71% +1 bp

5 year note: 4.37% unch

2 year note: 4.18% unch

30 year bond: 5.28% +2 bp

30 year FNMA 6.0: @9:30 am 101.38 -9 bp (-24 bp from 9:30 am Friday)

30 year FNMA 5.5: @9:30 am 99.28 -11 bp (-34 bp from 9:30 am Friday)

30 year GNMA 6.0: @9:30 am 101.91 +13 bp (-8 bp from 9:30 am Friday)

Dollar/Yen: 159.32 +0.02 yen

Dollar/Euro: $1.1592 +$0.0020

Dollar Index: 99.48 -0.18

Gold: $4,443.80 +$6.50

Bitcoin: 63,577 +532

Crude Oil: $82.75 +$0.35

DJIA: 53,564 -169

NASDAQ: 26,743 +14

S&P 500: 7774 -12

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.