Market Review July 23rd

Dated: 07/23/2016

Views: 253

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This Week in Review


For the week ending July 23rd – We’ve seen a bit of a corrective trading pattern in the bond market over the past week and Treasury yields have inched higher. 10yr yields have approached the high-end of our recent trading range from ~1.52%-1.65%, however, one positive note is that they have been able to hold below 1.65% and because of overbought conditions on technical charts, we believe that the 10yr and MBS pricing are due for a bounce. The question now is what is going to spark that move lower in interest rates again.

Overall, it’s been a fairly quiet week on the data front with one highlight being an unexpected rise in existing home sales in June. Sales have now improved in four straight months, and six out of the last seven. Looking ahead to next week, it’s going to be a busy one with top tier data such as Consumer Confidence, New Homes Sales, Durable Goods, and not to mention we have a FOMC 2-day meeting starting on Tuesday. Next week is surely going to provide some market movement for us and that should give us some more insight on where rates are headed in the short-term.


Upcoming Market DataMonday - July 25
Dallas Fed Mfg Survey
Tuesday - July 26
S&P Case-Shiller HPI
New Home Sales
Consumer Confidence
Wednesday - July 27
MBA Mortgage Applications
•  Durable Goods Orders
Pending Home Sales Index
FOMC Meeting Announcement
Thursday - July 28
International Trade in Goods
Jobless Claims
Bloomberg Consumer Comfort Index
Friday - July 29
Employment Cost Index
•  Chicago PMI
•  Consumer Sentiment
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  Jason Kaiman
  Production Manager
  NMLS: 406027
  Office: 515-418-9608
  Cell: 515-205-5244
  10647 Justin Drive
  Urbandale, IA 50322


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