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.
First
Priority Home Loans is a DBA of Anchor Funding, Inc. NMLS #236419 &
1626581. California
Bureau of Real Estate,
Real
Estate Broker Number 01276087. Loans made or arranged pursuant
to the
California Department of Business Oversight. California Finance Lenders Law
license number 603 L293.
NMLS: 220937
First Priority Home Loans
891 Kuhn Drive #204, Chula Vista CA
Company NMLS: 236419
Office: 619-323-2066
Cell: 619-208-6499
Email: andrefunds4u@sbcglobal.net
NMLS: 220937
Cell: 619-208-6499
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