CHM Blog

Friday stock indexes didn’t change, this morning the indexes began with little change from Friday. The US bombed Iran’s nuclear facilities, surprising the world when it happened last Saturday. The world now attempting to assess the future impact and implications, the UN security counsel objecting as would be expected. Iran threatening to close the Strait of Hormuz, 20 million barrels a day flow through the Strait. For oil markets it’s a key passage. Oil prices little changed this morning, so too gold prices little changed. In total there is very little change in key markets from Friday.

At 9:30 am ET the DJIA opened -23, NASDAQ -24, S&P unchanged. 10 year note at 9:30 am 4.34% -4 bp. FNMA 6.0 30 year coupon at 9:30 am +10 bps from Friday’s close and +15 bp bps from 9:30 am Friday.

The surprise last Saturday hasn’t moved markets, likely to take a few days to see what Iran and Israel will do now. The US administration saying it isn’t looking for a regime change in Iran, but the possibility is hanging over markets, treasury yields are falling, and the dollar is strengthening. Still talk of a rate cut coming in September but there hasn’t been much movement in rates to suggest markets are pricing in a cut; even a cut though won’t help the long end of the of the curve much; tariffs and inflation continue to be major factors for traders. The week is beginning with a lot of uncertainty with not much movement.

PRICES @ 10:00 AM

10 year note: 4.34% -4 bp

5 year note: 3.93% -4 bp

2 year note: 3.89% -2 bp

30 year bond: 486% -3 bp

30 year FNMA 6.0: @9:30 am 101.19 +10 bp (+15 bp from 9:30 am Friday)

30 year FNMA 6.5: @9:30 am 102.94 +7 bp (+6 bp from 9:30 am Friday)

30 year GNMA 6.0: @9:30 am 101.06 +6 bp (+13 bp from 9:30 am Friday)

Dollar/Yen: 147.28 +1.19 yen

Dollar/Euro: $1.1493 -$0.0032

Dollar Index: 99.18 +0.47

Gold: $3,394.90 +$9.20

Bitcoin: 102,066 +3142

Crude Oil: $73.42 -$0.42

DJIA: 42,335 +127

NASDAQ: 19,490 +43

S&P 500: 5989 +22

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.

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