CHM Blog

Daily Market Analysis March 21, 2022

March 21st, 2022 10:40 AM by Richard Sardella MLO.100007700/NMLS 233568


Daily Market Analysis

The prime focus now is the Fed’s plan to continue to raise the FF rate throughout the year. No safe haven moves into treasuries or gold as the war in Ukraine continues to increase. Chinese ambassador Qin Gang says China will work to de-escalate Russia's war on Ukraine, according to Bloomberg.

Inflation in the US at 40 yr. highs and expected to increase; we won’t get another scheduled read on inflation until a week from Thursday (3/24) when Personal income, spending and the PCE. Want high inflation? Germany reported its Feb PPI this morning, PPI +1.4% m/m (expected +1.7%; prior +2.2%) and +25.9% yr./yr. (expected +26.2%; prior +25.0%).

At 9:30 am the DJIA opened -42, NASDAQ -24, S&P +2; last week the DJIA +1,810, NASDAQ +1.050, S&P +259. 10 yr. note yield at 9:30 am 2.24% +9 bp, a new high for the 10 in US trading. FNMA 4.0 30 yr. coupon at 9:30 am -20 bps from Friday and -6 bps from 9:30 am Friday.

This week has very little data. New home sales and pending home sales later this week. No scheduled data until Wednesday.

The 2 yr. note broke above 2.00% this morning, the 2/10 spread 22 bps, the 5 yr. note spread against the 10 1 bp.

PRICES @ 10:00 AM

10 yr note: 2.23% +8 bp

5 yr note: 2.22% +8 bp

2 Yr note: 2.01% +6 bp

30 yr bond: 2.49% +6 bp

Libor Rates: 1 mo 0.447%; 3 mo 0.934%; 6 mo 1.288%; 1 yr 1.786% (3/18/22)

30 yr FNMA 3.5: @ 9:30 100.72 -34 bp (-22 bp from 9:30 am Friday)

30 yr FNMA 4.0: @9:30 102.86 -20 bp ( -6 bp from 9:30 am Friday)

30 yr GNMA 3.5: @9:30 101.20 -28 bp (-27 bp from 9:03 am Friday)

Dollar/Yuan: $6.3540 -$0.0072

Dollar/Yen: 119.15 yen unch

Dollar/Euro: $1.1037 -$0.0014

Dollar Index: 98.31 +0.08

Gold: $1926.80 -$2.50

Bitcoin: 41,153 -154

Crude Oil: $109.71 +$5.01

DJIA: 34,691 -64

NASDAQ: 13,803 -90

S&P 500: 4459 -4 bp

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 March 21st, 2022 10:40 AM

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