CHM Blog

Over the long weekend there were more strikes by the Houthis on Saudi energy facilities. Crude oil prices increased, the stock indexes beginning weaker. It wasn’t the only dust up; Iran attacked two US navy ships then the US struck three Iranian oil tankers sinking one.

US markets about unchanged from last Friday. This week begins with focus on incoming inflation data.

The 10 year note early this morning hit 4.80% again but did hold.

Inflation data later this week, increasing oil prices and the August Treasury budget may place a great deal of pressure on markets.

This week’s calendar:

• Tuesday:

August NFIB small business optimism index expected at 99.4 from 99.8 declined to 98.7. At 1 pm ET a $58B 3 year note auction

• Wednsday:

Weekly MBA mortgage applications, $39B 10 year note auction

• Thursday:

  Weekly jobless claims (208K from 206K), August PPI (month/month +0.4% from 0.0%, year/year +5.3% from +4.7%; core month/month +0.3% from +0.2%, year/year core +4.6% from +4.2%), August existing home sales (3.970 million from 4.06 million in July), $22B 30 year bond auction.

• Friday:

  August CPI consumer price index (month/month +0.4% from +0.1%, year/year +3.4% unch, core month/month +0.2% unch from July, year/year 2.4% from 2.5%). Treasury will report the August US Treasury budget, in July the deficit was -$432B, $100B more than expected sending rates higher. The final report, the University of Michigan mid-month consumers sentiment index (51.2 from 51.7).

PRICES @ 10:00 AM

10 year note: 4.78% unch

5 year note: 4.55% unch

2 year note: 4.39% +1 bp

30 year bond: 5.23% -2 bp

30 year FNMA 6.0: @9:30 am 101.09 +6 bp (+7 bp from 9:30 am Friday)

30 year FNMA 5.5: @9:30 am 98.94 +9 bp (+4 bp from 9:30 am Friday)

30 year GNMA 6.0: @9:30 am 101.24 +3 bp (+5 bp from 9:30 am Friday)

Dollar/Yen: 153.89 -0.45 yen

Dollar/Euro: $1.1623 unch

Dollar Index: 98.85 -0.33

Gold: $4,435.10 -41.50

Bitcoin: 77,837 -1505

Crude Oil: $93.38 +$1.98

DJIA: 52,897 -517

NASDAQ: 26,393 -114

S&P 500: 7683 -35

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.