Long-end yields are lower again this morning with the 10-year down to 1.303%, its lowest level since February 19, ahead of the Fed minutes release. Investors will be parsing the release looking for clues as to how the central bank plans to manage policy in light of inflationary pressures. The MBA mortgage applications index fell 1.8% last week with both purchases, -1.1%, and refis, -2.3%, lower. The June prepayment report will come out this evening with analysts expecting an a 5% to 10% increase on the back of two more collection days and seasonal factors.
Director, Investment Management Group
|07/06/21||Markit US Services PMI||64.8||64.6||64.8||—|
|07/06/21||Markit US Composite PMI||—||63.7||63.9||—|
|07/06/21||ISM Services Index||63.5||60.1||64||—|
|07/07/21||MBA Mortgage Applications||—||-1.80%||-6.90%||—|
|07/07/21||JOLTS Job Openings||9325k||—||9286k||—|
|07/07/21||FOMC Meeting Minutes||—||—||—||—|
|07/08/21||Initial Jobless Claims||350k||—||364k||—|
|07/08/21||Langer Consumer Comfort||—||—||55.1||—|
|07/09/21||Bloomberg July United States Economic Survey|
|07/09/21||Wholesale Trade Sales MoM||—||—||0.80%||—|
|07/09/21||Wholesale Inventories MoM||1.10%||—||1.10%||—|
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