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The equity markets weak this morning, early trade in treasuries and MBSs unchanged from Friday.
No economic reports today.
At 9:30 am ET, the DJIA opened -217, NASDAQ -142, S&P 30. 10
yr. at 9:30 am 1.13% +1 bp. FNMA 2.0 30 yr. coupon at 9:30 am -9 bps from Friday’s close, and -22 bps from 9:30 am Friday. The 2.5 30
yr. FNMA coupon at 9:30 -3 bps from Friday’s close and -21 bps from 9:30 am Friday.
The equity markets are opening soft this morning; until now, in the world of finance and investments, the domestic crisis that exists hasn’t phased US and global markets. The consensus forecasts are all very optimistic for growth in 2021.
This Week’s Calendar:
Monday, 1:00 PM ET $58B 3 yr. note auction
Tuesday,
6:00 am ET Dec NFIB Small business optimism index (101.4 unch
from Nov)
10:00 am ET Nov JOLTS job openings
1:00 pm ET $38B 10 yr. note auction
Wednesday,
7:00 am ET weekly MBA mortgage applications
8:30 am ET Dec CPI (+0.4%, yr./yr. +1.3%: core CPI +0.1%, yr./yr. +1.7%)
1:00 pm ET $24B 30 yr. bond auction
2:00 pm ET Dec Treasury budget statement (-$200B)
Fed Beige Book
Thursday,
8:30 am ET weekly jobless claims (788K unch from prior week)
Dec import and export prices (imports +0.5%, exports +0.4%)
Friday,
8:30 am ET Dec PPI (+0.3%; core +0.2%)
Dec retail sales (-0.1%, ex autos -0.1%, control group +0.2%)
Jan Empire State Manufacturing index (+6.0)
9:15 am ET Dec industrial production and capacity utilization (production +0.4%, cap utilization 73.5%)
10:00 am ET Nov business inventories (+0.4%)
Jan mid-month U. of Michigan consumer sentiment index (80.0
from 80.7 in Dec)
PRICES @ 10:00 AM ET
10 yr. note: 0.1.14% +2 bp
5 yr. note: 0.49% +1 bp
2 Yr. note: 0.14% unch
30 yr. bond: 1.89% +2 bp
Libor Rates: 1 mo. 0.126%; 3 mo. 0.224%; 6 mo. 0.246%; 1
yr. 0.329% (1/08/21)
30 yr. FNMA 2.0: @9:30 102.98 -9 bp (-22 bp from (9:30 Friday)
30 yr. FNMA 2.5: @9:30 104.92 -3 bp (-21 bp from 9:30 Friday)
30 yr. GNMA 2.5: @9:30 104.77 -20 bp (-21 bp from 9:30 Friday)
Dollar/Yuan: $6.4820 +$0.0066
Dollar/Yen: 104.33 +0.37 yen
Dollar/Euro: $1.2144 -$0.0076
Dollar Index: 90.60 +0.50
Gold: $1838.40 +$3.00
Bitcoin: $33,544 -$4440
Crude Oil: $51.65 -$0.59
DJIA: 30,970 -128
NASDAQ: 13,082 -120
S&P 500: 3805 -20
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