Shiny Trinket

What's on the agenda for this week?

This morning the 10 year at 8:30 am ET 4.36% +1 bp, MBS prices -4 bps from Thursday’s close.

Over the weekend Commerce Sec Lutnick said the final deadline for deals will be August 1st, it had been set for this coming Wednesday. The President confirmed that the U.S. will start delivering letters on Monday, detailing country-specific tariff rates and any agreements reached with various trading partners. The still uncertain tariffs keeping rates from declining. Look for a few trade deals to be announced this week.

This week’s key focuses; Treasury auctions, weekly claims, FOMC minutes; not much. Most focus will be on news of trade talks. Economic data won’t play much of a role this week, weekly claims and continuing claims the most important in a thin week. Trade talks will also be center stage but again Trump has pushed the deadline from this Wednesday to August 1st. It sounds like some key deals may hit this week. Once Japan, South Korea, India, China, and the EU trade deals are set that should conclude most all of the tariffs of consequence; most all other countries that trade with the US are not significant.

This Week’s Economic Calendar:

• Monday,

No releases

• Tuesday,

6 am June NFIB small business optimism index (98.7 from 98.8)

1 pm $58B 3 year note auction

3 pm May consumer credit (+$11.5B from $17.9B in April)

• Wednesday,

7 am weekly MBA mortgage applications

10 am May preliminary wholesale inventories (-0.3%)

1 pm $39B 10 year note auction

2 pm FOMC minutes

• Thursday,

8:30 am weekly jobless claims (238K from 233K)

1 pm $22B 30 year bond auction

• Friday,

2 pm June Treasury budget statement (+$50.0B from -$316.0B in May)

PRICES @ 10:00 AM

10 year note: 4.37% +2 bp

5 year note: 3.95% +1 bp

2 year note: 3.89% unch

30 year bond: 4.90% +3 bp

30 year FNMA 6.0: @9:30 am 101.40 -6 bp (-5 bp from 9:30 am Thursday)

30 year FNMA 6.5: @9:30 am 103.09 -3 bp (-6 bp from 9:30 am Thursday)

30 year GNMA 6.0: @9:30 am 101.29 -6 bp (-7 bp from 9:30 am Thursday)

Dollar/Yen: 145.76 +1.28 yen

Dollar/Euro: $1.1740 -$0.0041

Dollar Index: 97.32 +0.14

Gold: $3,318.00 -$24.90

Bitcoin: 108,127 -437

Crude Oil: $67.43 +$0.43

DJIA: 44,754 -75

NASDAQ: 20,495 -106

S&P 500: 6260 -20

With over 25 years experience, I have the expertise necessary to help borrowers achieve their financial dream. Whether you are a first time home buyer or a borrower looking to refinance an existing mortgage, I will find you the best product that meets your needs at the lowest price.

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.

NMLS # 1215155 www.nmlsconsumeraccess.org Licensed Florida Mortgage Broker # MBR1605 Licensed Virginia Mortgage Broker # MC-5869