CHM Blog

The shutdown is over; we will get some unreported economic data this week. The releases still not completely scheduled, and the October monthly employment report may never be reported. Here is what we know so far, the September employment report will hit on Thursday, today August construction spending, the August US trade deficit on Wednesday, FOMC minutes on Thursday. Weekly jobless claims likely not until next week.

The November Empire State manufacturing index hit this morning, expected at 5.8 from 10.7 in October, increased to 18.7. Tomorrow the November NAHB housing market index, expected unchanged at 37.0, and the new weekly ADP payroll data. Wednesday weekly MBA mortgage applications, October housing starts and permits (starts 1.330 million, permits 1.340 million). Thursday October existing home sales (4.090 million from 4.060 million). Friday the final November consumer sentiment index University of Michigan/Wells/Fargo (50.5 from 50.3 to weeks ago).

The FOMC meeting is 18 market days from today, but it will dominate thinking as more delayed economic releases are reported.

Reports that have been delayed will begin to trickle out over the next week. What they say will set the tone for traders and investors, increasing day-to-day volatility in the bond and equity markets.

PRICES @ 10:00 AM

10 year note: 4.14% -1 bp

5 year note: 3.73% unch

2 year note: 3.61% unch

30 year bond: 4.73% -2 bp

30 year FNMA 5.5: @9:30 am 100.83 +3 bp (-5 bp from 9:30 am Friday)

30 year FNMA 6.0: @9:30 am 102.12 +2 bp (-3 bp from 9:30 am Friday)

30 year GNMA 5.5: @9:30 am 100.71 +1 bp (-3 bp from 9:30 am Friday)

Dollar/Yen: 154.98 +0.43 yen

Dollar/Euro: $1.1586 -$0.0035

Dollar Index: 99.49 +0.19

Gold: $4,079.90 -$14.30

Bitcoin: 95,068 +987

Crude Oil: $60.01 -$0.08

DJIA: 47,122 -25

NASDAQ: 23,000 -100

S&P 500: 6748 +14

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.