CHM Blog

Last Friday at 4:02 pm it hit the wires the US had launched additional attacks on Iran after Iran attacked a ship going through the Strait, the timing of the report after the markets were closed removed potential volatility. Over the weekend the oil market and US treasuries traded with very little movement. Beside the ever-present Iran situation, this week is employment week. The price of oil this morning up $1.00 from Friday and the US 10 year note up 1 bps from Friday at 4.38%. MBS prices began the day -4 bps in price.

This Week’s data: Tuesday April Case/Shiller home price index (-0.1%), June Chicago purchasing managers index (55.2 from 62.7), June Conference Board’s consumer confidence index (94.5 from 93.1), May JOLTS job openings (7.307 million from 7.618 million). Wednesday June ADP private jobs (118K from 122K), weekly jobless claims (220K from 215K), 9 am Kevin Warsh at the European Central Bank (ECB) Forum on Central Banking, June ISM manufacturing index (53.8 from 54.0), May construction spending (+0.2% month/month). Thursday BLS June employment report (month/month NFP jobs (114K from 172K, private jobs +124K from +120K, unemployment rate 4.3% unchanged from May, month/month average hourly earnings +0.3% the same as in May, year/year +3.5% from +3.4%).

The bond market will close Thursday at 2 pm and closed Friday for Independence Day. The equity market will trade all day Thursday and close on Friday.

PRICES @ 10:00 AM

10 year note: 4.38% +1 bp

5 year note: 4.14% +1 bp

2 year note: 4.12% +2 bp

30 year bond: 4.86% unch

30 year FNMA 5.5: @9:30 am 100.61 unch (+7 bp from 9:30 am Friday)

30 year FNMA 6.0: @9:30 am 102.29 -3 bp (+11 bp from 9:30 am Friday)

30 year GNMA 5.5: @9:30 am 100.68 +3 bp (+5 bp from 9:30 am Friday)

Dollar/Yen: 161.93 +0.19 yen

Dollar/Euro: $1.1407 +$0.0024

Dollar Index: 101.26 -0.10

Gold: $4,053.40 -$42.90

Bitcoin: 59,410 +13

Crude Oil: $70.02 +$0.70

DJIA: 52,121 +245

NASDAQ: 25,536 +238

S&P 500: 7396 +42

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.