A calm day for markets ahead of jobs and inflation data

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Published Date 8/28/2024

Today started unchanged in markets, yesterday also essentially unchanged. The focus remains on Friday’s July PCE inflation report that is expected to increase slightly.

The only data today, weekly MBA mortgage applications. Total apps +0.5% from the prior week’s decline of 10.1%, purchase apps last week +0.9% from -5.2%, re-finance applications declined 0.1% after slipping 15.2% the prior week.

At 9:30 am ET the DJIA opened -5, NASDAQ -3, S&P –1. The 10 year also unchanged from yesterday at 3.83%. FNMA 5.5 30 year coupon +1 bp from yesterday and +20 bp from 9:30 am yesterday.

At 1 pm Treasury will sell (borrow) $70B of 5 year notes. Yesterday the 2 year auction found good demand.

It is unlikely there will any movement in US financial markets today with little news (stock indexes waiting for NVidia to release earnings). Markets still focused on Friday’s inflation report and tomorrow’s weekly jobless claims.

Source: TBWS

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.

THIS IS AN ADVERTISEMENT. This is not a commitment to lend. Offer of credit subject to credit approval. A and N Mortgage Services, Inc. 1945 N. Elston Ave. Chicago, IL 60642 p: 773.305.LOAN (5626) ANmtg.com NMLS No. 19291 For licensing information, go to: https://www.anmtg.com/licensing/ (Nationwide Mortgage Licensing System www.nmlsconsumeraccess.org)

A and N Mortgage Services

NMLS: 19291

A and N Mortgage Services

1945 N. Elston, Chicago IL 60642

Company NMLS: 19291

Office: 773-305-5626

Cell: 312-961-4380

Email: neenav@anmtg.com

Web: https://www.anmtg.com/

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A and N Mortgage Services

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NMLS: 19291

Cell: 312-961-4380

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