Published Date 12/28/2022
The 10 opened this morning down 2 bps at 3.83%, MBSs started lower in early trading, down 9 bps from yesterday. Prior to the 9:30 am ET open US stock indexes were generally unchanged from yesterday. No major news overnight, further moves by China to reopen its economy modestly lifted investor sentiment in the final week of a dismal year for markets.
Global equities have lost a fifth of their value, the largest decline since 2008 on an annual basis, and an index of global bonds has slumped 16%. The dollar has surged 7% and the US 10-year yield has jumped to above 3.80% from just 1.5% at the end of 2021.
Not a lot today, Nov pending home sales, at 1 pm Treasury will sell $43B of 5 yr. notes, yesterday’s 2 yr. auction met with aggressive and strong demand.
At 9:30 am the DJIA opened +125, NASDAQ +5, S&P +18. 10 yr. at 9:30 am 3.83% -2 bps. FNMA 5.5 30 yr. coupon at 9:30 am -14 bps and -14 bps from 9:30 am yesterday.
At 10 am Nov pending home sales were expected -0.5% from -4.6% in October, as released sales declined 4.0%.
Source: TBWS
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Guardian Mortgage, a division of Sunflower Bank, N.A.
NMLS: 220741
Guardian Mortgage
16430 N Scottsdale Rd #120, Scottsdale AZ
Company NMLS: 709491
Office: 602-432-6388
Cell: 480-286-3303
Email: deanwegner@gmc-inc.com
Web: https://www.guardianmortgageonline.com/loanoriginators/Dean-Wegner
NMLS: 220741
Cell: 480-286-3303