March 9th, 2017
|Thursday, March 9, 2017||Report||For||Estimate||Actual||Prior||Impact|
|8:30 AM||Jobless Claims||03/04||Moderate|
What Is Going On With Interest Rates? #wigowir
Below is the news when it happened and the market’s reaction. For a full view of the day start at the bottom and work your way up. If want to know what just happened start at the top. All Times are Eastern Standard Time. When the price of Mortgage Backed Securities (MBS) goes down rates go up, and when the price goes up rates come down. Remember in the bond market Bad News is Good News and Good News is Bad news.
1:39 PM Past midday, MBS lower, S&P near unchanged. 10-yr yield 2.58%.
1:10 PM The last of this week's Treasury auctions comes to a close with today's "B-" rating for the $10B 30-yr Bond offering.
12:33 PM Bond traders look to the 1:00 p.m. ET release of today's $10B 30-yr Bond auction.
11:35 AM Freddie Mac reports that the 30-yr fixed conventional mortgage rate rose to 4.21% in the latest week from 4.10% with 0.5 in points and fees.
11:28 AM Stocks hover just above unchanged.
9:34 AM The S&P 500 opens near unchanged.
8:39 AM ECBs Draghi says sentiment point to pickup in economic momentum. MBS fall into negative territory.
8:36 AM U.S. dollar index $102.12, +0.04.
8:33 AM Weekly Initial Jobless Claims rise to 243K from last week's ultra low number of 223K and just above the 240K expected.
8:29 AM U.S. employers announced plans to cut 36,957 jobs in February, 19% fewer than the 45,934 cuts announced in January, according to the latest report from global outplacement and executive coaching firm Challenger, Gray & Christmas, Inc.
8:16 AM Economic data is limited to Weekly Initial Jobless Claims due out at 8:30 as claims hover near lows seen in the early 1970s.
8:14 AM Treasury bonds pay a fixed rate of interest every six months until they mature. They are issued in a term of 30 years.
8:13 AM Treasury notes, sometimes called T-Notes, earn a fixed rate of interest every six months until maturity. Notes are issued in terms of 2, 3, 5, 7, and 10 years.
8:12 AM The Treasury will sell $10B 30-yr Bonds today and comes after yesterday's stellar 10-yr Note offering.
8:11 AM MBS open near unchanged.
8:11 AM The ECB leaves its benchmark at present levels and will do so for an extended period of time. The asset purchase program remains the same.
8:04 AM 10-yr T Note yield near unchanged at 2.56%.
8:02 AM MBS look to open near unchanged.
8:00 AM In addition, concerns over stock valuations and a Fed rate hike on the table next week are throwing caution to the wind in the equity markets.
7:59 AM S&P futures lower in sympathy with oil prices and remain cautious ahead of tomorrow's February Jobs Report.
7:58 AM Oil prices continue to decline after a record rise in inventories. WTI oil hit $48.79/barrel this morning, now at $49, -$1.28, the lowest level since early December.
Johnmarbury.com has attempted to verify the information contained on this post. However any aspect of such may change without notice. Johnmarbury.com does not provide investment advice and does not represent that any of the information or related analysis is accurate or complete at any time. On October 5th we started posting our rates and leaving them on the site for you to refer back to. This will allow you see where actual rates have been along with the news that caused the fluctuations on the rate sheet. I ask that you forgive my spelling and grammatical mistakes. This is due writing skills that are lacking and the need to communicate quickly. Most of the information posted on this blog along with the charts and indexes are available all during the day to the subscrbers of www.themortgagemarketguide.com The cost of subscription is very reasonable.