CHM Blog

The relief rally after the Fed statements on Wednesday didn’t go as far as expected. The belief of another key rate increase continues to override technical signals bonds are oversold. Crude oil is up this morning adding to soft treasuries.

The Fed is threatening another round of tightening to bring inflation down to 2.0%.

At 9:15 am ET August industrial production was unchanged from July with estimates +0.3%, capacity utilization forecasts at 76.4% hit at 76.3%. A minor slowing but didn’t have impact.

Nothing left on the calendar today.

PRICES @ 10:00 AM

10 year note: 5.00% +6 bp

5 year note: 4.86% +6 bp

2 year note: 4.74% +6 bp

30 year bond: 5.33 +4 bp

30 year FNMA 6.0: at 9:30 am 99.68 -29 bp (-22 bp from 9:30 am yesterday)

30 year FNMA 5.5: at 9:30 am 97.18 -40 bps

30 year GNMA 6.0: at 9:30 am 99.80 -22 bp (+3 bp from 9:30 am yesterday)

Dollar/Yen: 157.79 +1.82 yen

Dollar/Euro: $1.165 -$0.0010

Dollar Index: 100.50 -0.25

Gold: $4,393.60 -$6.10

Bitcoin: 79,238 +2701

Crude Oil: $103.30 +$1.39

DJIA: 51,569 -209

NASDAQ: 26,414 -4

S&P 500: 7622 -16

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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MLO of record MLO.100007700 / NMLS#233568 / CHM NMLS#127716.