Published Date 12/2/2024
Last Friday the 10 year note fell 9 bps to 4.17%, the 2 year note -8 bp. Since last Wednesday, the 10 year note has declined 15 bps, the 2 year down 9 bps. This morning a little back up ahead of key data through the week culminating with November employment on Friday.
At 9:30 am ET the DJIA opened +79, NASDAQ +75, S&P +13. The 10 year at 9:30 am 4.23% +6 bp. FNMA 6.0 30 year coupon at 9:30 am -8 bps from Friday’s close and -8 bp from 9:30 am Friday.
At 9:45 am November PMI manufacturing index expected at 48.8 increased to 49.7.
At 10 am November ISM manufacturing index expected at 47.6 increased to 48.4 and up from 46.5 in October.
A slight pullback this morning but our technicals still holding well.
This Week’s Economic Calendar:
Monday:
November PMI manufacturing (48.8 from 48.5 in October)
November ISM manufacturing (47.6 from 56.5)
October construction spending (+0.2% from +0.1%).
Tuesday:
October JOLTS job openings (7.490 million from 7.443 million).
Wednesday:
Weekly MBA mortgage applications
November ADP private jobs (165K from 233k in October)
November ISM services sector index (55.5 from 56.0)
1:45 pm Jerome Powell
2 pm Fed Beige Book.
Thursday:
Weekly jobless claims (215K from 212K)
Friday:
November employment data (unemployment rate 4.2% from 4.1%
NFP jobs 200K from 12K, private jobs 200K from -28K, average hourly earnings +0.3% from 0.4%, year/year 3.9% from 4.0%
University of Michigan December preliminary (73.0 from 71.8)
October consumer credit (+10.0B from +6.0B).
Source: TBWS
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: 51519
Millenium Home Mortgage LLC
1719 Route 10 East, Suite 206, Parsippany NJ
Company NMLS: 51519
Office: 973-402-9112
Email: connie@mhmlender.com
NMLS: 51519
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