Shiny Trinket

Overnight the 10 year note hit a low of 4.19% -4 bps from yesterday’s US close; the improvement was short-lived, when US trading began the 10 yield at 8:30 am ET down just 1 bp to 4.22%, by 9:30 am 4.24% +1 bp. MBS prices began the day +6 bps from yesterday, by 9:30 am -4 bps.

The BBB moving though Congress still not resolved, after the Senate passed it the bill it entered amendment territory.

Powell scheduled to talk at 9:30 am although we don’t expect anything new from him.

At 9:30 am before key data at 10 am the DJIA opened -78, NASDAQ -83, S&P -19. 10 year note at 9:30 am 4.24% +1 bp. FNMA 6.0 30 year coupon at 9:30 am -4 bps from yesterday’s close and +1 bp from 9:30 am yesterday.

At 9:45 am June PMI manufacturing index, expected at 52.0, reported 52.9.

At 10 am the key today, May JOLTS job openings, estimates were openings to have declined to 7.30 million from 7.391 million, reported at 3.293 million from upward revision in April to 3.215 million; the quits rate, a metric that measures voluntary job leavers as a proportion of total employment, ticked up to 2.1% in May from 2% in the previous month.

At 10 am the ISM June manufacturing index thought to be 48.8, reported at 49.0.

Nothing left on the calendar today. From now until Thursday morning June employment thoughts will dominate as well as the BBB moving through Congress. Tomorrow ADP will release its private jobs report, weekly jobless claims also hit tomorrow. Markets closed on Friday.

PRICES @ 10:00 AM

10 year note: 4.25% +2 bp

5 year note: 3.83% +2 bp

2 year note: 3.76% +4 bp

30 year bond: 4.78% unch

30 year FNMA 6.0: @9:30 am 101.57 -4 bp (+1 bp from 9:30 am yesterday)

30 year FNMA 6.5: @9:30 am 103.23 -2 bp (-6 bp from 9:30 am yesterday)

30 year GNMA 6.0: @9:30 am 101.37 -9 bp (-8 bp from 9:30 am yesterday)

Dollar/Yen: 143.27 -0.77 yen

Dollar/Euro: $1.1796 +$0.0006

Dollar Index: 96.62 -0.25

Gold: $3,358.00 +$50.30

Bitcoin: 106,641 -1146

Crude Oil: $65.40 +$0.29

DJIA: 44,196 +102

NASDAQ: 20,295 -75

S&P 500: 6195 -10

In the real estate industry since 1985, Julie DeMarcus started her career with a local title company, worked her way to a Certified Escrow Officer and then switched gears in 1993 to mortgage lending. Julie helps her clients make sense of the often confusing world of lending. Working closely with her clients, Julie strives to produce a smooth, stress-free transaction. Thanks to her attention to detail and superb customer service, her client base has increased exponentially over the years. Her dedication to her clients continues to be a hallmark of her business. A local resident of the Santa Ynez Valley since 1991, Julie has been married to Andy since 1988 and has two grown children, Zach and Nicole.

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