Short trading day for markets

___

Published Date 11/24/2023

In a short session today and with trading volume reduced, the rate markets opened weak, at 8:30 am ET the 10 year note up 7 bps to 4.48%, MBS price -24 bps, stock indexes at 8:30 am slightly better. Selling began in the Asian time frame, dipped a little when Europe began, then returned to the highs so far. The Bank of England officials warning that no rate cuts in the near term due to continued high inflation. ECBs policymaker Villeroy de Galhau said that he doesn't expect another rate hike from the ECB unless an "unexpected event" takes place.

The stock market will close at 1 pm with little change. The bond market will end at 2 pm.

At 9:30 am the DJIA opened +47, NASDAQ -39, S&P -3. 10 year 4.47% +6 bps. FNMA 6.5 30 year coupon at 9:30 am -25 bps from Wednesday’s close and -35 bps from 9:30 am Wednesday.

At 9:45 am the only data today, the global PMI composite index was 50.7 for Nov FLASH release, manufacturing index expected at 49.9, service sector index 50.5; as reported manufacturing, as reported manufacturing index at 49.4 and services at 50.6.

Next week inflation data for October personal consumption expenditures on Thursday.

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.

Millenium Home Mortgage, LLC NMLS # 51519 Licensed by the NJ Department of Banking and Insurance, CT Mortgage Banker 1st and 2nd Mortgages Licensed as MHM Home Mortgage, Licensed by the Pennsylvania Department of Banking. All interest rates, fees and programs are subject to change without notice. THIS ENTIRE SITE IS NOT INTENDED AS A SOLICITATION FOR MORTGAGE LOAN CUSTOMERS IN NEW YORK, PENNSYLVANIA, OR CONNECTICUT.