Markets will have little hard data to work on this week

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There won’t be a rate cut next week when the FOMC meets on July 30th (a week from Wednesday). Although Powell will speak tomorrow (Tuesday) it is unlikely he will have anything to say about what the Fed is thinking or on the possibility of any rate cuts this year.

At 9:30 am the DJIA opened +85, NASDAQ +70, S&P +14. 10 year at 9:30 am 4.38% -5 bp. FNMA 6.0 30 year coupon at 9:30 am +15 bps from Friday’s close and +10 bps from 9:30 am Friday.

At 10 am June leading economic indicators expected -0.2%, reported -0.3%.

This week’s economic calendar doesn’t have much for traders, weekly claims on Thursday is about it. Movement in rates will be driven by trade comments and geopolitical news if any. This is earnings season for equity markets.

This Week’s Economic Calendar:

  • Monday,

  • 10 am June leading economic indicators (expected -0.2% reported at -0.3%)

  • Tuesday,

  • 8:30 am Jerome Powell at the Integrated Review of the Capital Framework for Large Banks Conference, Washington.

  • Wednesday,

  • 7 am weekly MBA mortgage applications

    10 am June existing home sales (4.00 million from 4.03 million)

    1 pm 20 year bond auction

  • Thursday,

  • 8:30 am weekly jobless claims (225K from 221K)

    10 am June new home sales (650K from 623K)

  • Friday,

  • 8:30 am June durable goods orders (-11.0% from +16.4%, ex vehicles +0.1% from +0.5%, core capital goods orders +0.2% from +1.7%)

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.

Southern Oaks Mortgage, Inc. is a licensed Broker/Lender with the CA DRE Lic. #01458657, NMLS #237717

Jeffrey Eisenberg

President/Broker

NMLS: 236681

Southern Oaks Mortgage, Inc.

25060 Avenue Stanford, STE 255, Valencia CA

Company NMLS: 237717

Office: 661-964-2600

Cell: 661-904-5989

Email: jeff@somloans.com

Web: http://www.somloans.com

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Jeffrey Eisenberg

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President/Broker

NMLS: 236681

Cell: 661-904-5989


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