CHM Blog

Daily Market Analysis June 6, 2022

June 6th, 2022 9:40 AM by Richard Sardella MLO.100007700/NMLS 233568


Daily Market Analysis

Friday stock indexes were under pressure, this morning some improvement in the futures markets; the 10 yr. at 8:30 am ET 2.98% +3 bp, FNMA 4.0 30 yr. coupon opened down 11 bps.

The week starting with not a lot of news. The economic calendar has just one key report this week, and its on Friday when another inflation report hits, May CPI. Expectations are for continuing moderation, since March inflation has moderated, still high by historical standards but continuing increases have ebbed.

At 9:30 am the DJIA opened +209, NASDAQ +210, S&P +44. 10 yr. note 2.97% +3 bps. FNMA 4.5 30 yr. coupon -9 bps and -13 bps lower than at 9:30 am Friday.

The ECB will meet this week (Thursday), policymakers will this week ask President Christine Lagarde to use stronger language to signal that fragmentation won’t be allowed to happen and the borrowing costs of more vulnerable countries like Italy and Spain will be contained, according to people familiar with the matter. The ECB will lift the deposit rate -- now at -0.5% -- by a quarter-point in July and again in September, the poll showed. While in line with President Christine Lagarde’s vow to end subzero borrowing costs in the third quarter, that’s less aggressive than the path sought by officials. The ECB, unlike the Fed has been slow to increase rates; inflation in the region, 8.1%.

PRICES @ 10:00 AM

10 yr note: 2.99% +5 bp

5 yr note: 2.98% +5 bp

2 Yr note: 2.70% +1 bp

30 yr bond: 3.15% +5 bp

Libor Rates: 1 mo 1.119%; 3 mo 1.626%; 6 bp 2.109%; 1 yr 2.775% (6/3/22)

30 yr FNMA 4.0: 99.64 -14 bp (-6 bp from 9:30 am Friday)

30 yr FNMA 4.5: 101.28 -9 bp (-13 bp from 9:30 am Friday)

30 yr GNMA 4.0: 100.64 -16 bp (-8 bp from 9:30 am Friday)

Dollar/Yuan: $6.6446 -$0.0157

Dollar/Yen: 130.94 +0.12 yen

Dollar/Euro: $1.0713 -$0.0006

Dollar Index: 102.16 +0.02

Gold: $1852.50 +$2.30

Bitcoin: 31,402 +1437

Crude Oil: $119.45 +$0.58

DJIA: 33,197 +297

NASDAQ: 12,207 +194

S&P 500: 4160 +51

About Richard Sardella

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.

About This Report And Disclosure Information

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.

Posted by Richard Sardella MLO.100007700/NMLS 233568 on June 6th, 2022 9:40 AM

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