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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Wymac Capital, Inc.
NMLS: NMLS: 290837 | Broker CalRE: 01150730
Wymac Capital, Inc.
346 Rheem Blvd #107, Moraga CA 94556
Company NMLS: 18766
Office: 925-937-4300
Email: russellm@wymac.com
Web: https://wymac.com
NMLS: NMLS: 290837 | Broker CalRE: 01150730