Mortgage Market Report

Market Outlook
Monday, August 31, 2009 7:15 AM
Price Trend: Neutral
Price Volatility: High
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Current Conditions:
FNMA 4.5 100-07 (+1)
GNMA 4.5 100-15 (+0)
10yr Yield 3.453
Today’s Economic Data (PST)
Chicago PMI 6:45
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Commentary:
Treasuries and mortgages are mostly unchanged this morning. Global stock markets were off overnight
which has provided some support for bonds. The only data released today was the Chicago Purchasing
Managers’ index which is a measure of manufacturing in the Med-West. The report beat expectations with a
reading of 50 which is the dividing line between contraction and expansion. Once again, the “cash-forclunkers”
program is being credited for the increase.
The rest of the week is a busy one. Both ISM surveys, FOMC minutes and the employment report should
give the markets plenty to digest as we start a new month.
This Week’s Economic Calendar
Monday Aug 31 Tuesday Sep 1 Wednesday Sep 2 Thursday Sep 3 Friday Sep 4
Chicago PMI
9:45
AM ET
ICSC-Goldman
Store Sales
7:45 AM ET
ISM Mfg Index
10:00
AM ET
MBA Purchase
Applications
7:00 AM ET
Challenger Job-Cut
Report
7:30 AM ET
Jobless Claims
8:30
AM ET
ISM Non-Mfg Index
10:00
AM ET
Employment
Situation
8:30
AM ET
Construction
Spending
10:00
AM ET
Pending Home
Sales Index
10:00 AM ET
ADP Employment
Report
8:15 AM ET
Productivity and
Costs
8:30
AM ET
Factory Orders
10:00
AM ET
FOMC Minutes
2:00 PM ET