{"id":8754,"date":"2019-12-18T19:36:36","date_gmt":"2019-12-18T19:36:36","guid":{"rendered":"https:\/\/intelliloan.com\/blog\/?p=8754"},"modified":"2024-10-16T18:53:55","modified_gmt":"2024-10-16T18:53:55","slug":"rates-continue-to-flatline-as-trade-and-impeachment-remain-in-the-headlines","status":"publish","type":"post","link":"https:\/\/intelliloan.com\/insights\/rates-continue-to-flatline-as-trade-and-impeachment-remain-in-the-headlines\/","title":{"rendered":"Rates Continue To Flatline As Trade And Impeachment Remain In The Headlines"},"content":{"rendered":"

MBS prices started lower this morning\u00a0<\/strong>while the bellwether 10 yr was unchanged from yesterday at 1.89%. MBS prices at 9:00 am EST -12 bps from yesterday\u2019s close.<\/p>\n

Weekly MBA mortgage applications last week;<\/strong>\u00a0-5.0%, purchases -2.0% while refinances -7.0%. There are no other economic releases today.<\/p>\n

The House will vote on the two articles of impeachment sometime today<\/strong>, likely later this afternoon or early evening. According to current news, the articles won\u2019t be sent to the Senate today. The House will debate for six hours before holding separate votes on the two impeachment articles. Nancy Pelosi and the Judiciary Committee officially release on Wednesday the names of the proposed Democratic House managers who will prosecute the case in the upcoming Senate trial. The House isn\u2019t expected to be in session on Friday, but an official familiar with the matter wouldn\u2019t say if those issues would be resolved Thursday.<\/p>\n

Reuters is reporting that JPMorgan sees an \u201cuncomfortably high\u201d 25% chance that Britain\u2019s Brexit transition period will end in a \u2018no-deal\u2019 scenario<\/strong>\u00a0when the deadline to strike a trade deal with the European Union ends in Dec. 2020. \u201cWe have put the risk of a \u201cno-deal\u201d end to the transition at 25%, a number we regard as uncomfortably high. The negotiation process is path-dependent, and we could find ourselves on that path even though neither negotiating views it as their first preference\u201d. The UK will officially exit the EU early next year.<\/p>\n

Fitch noted that the Phase One deal with China is unlikely to alleviate trade-related uncertainty<\/strong>\u00a0or restore confidence among businesses. We continue to think that trade with China will be a long ongoing issue with differences cropping up regularly that will have to be settled with negotiations.<\/p>\n

Euro economic data on PPI and CPI:\u00a0<\/strong>Eurozone’s November CPI decreased 0.3% m\/m, as expected (last 0.1%) but rose 1.0% yr\/yr, as expected (last 0.7%). November Core CPI decreased 0.5% m\/m, as expected (last -0.5%) but rose 1.3% yr\/yr, as expected (last 1.1%). October Construction Output decreased 1.0% m\/m (last 1.1%). Germany’s November PPI was unchanged m\/m (expected 0.1%; last -0.2%), falling 0.7% yr\/yr (expected -0.6%; last -0.6%).<\/p>\n

The 10 yr pushing against 1.90%<\/strong>, crucial support in our technical analysis. At 10:00 am EST, its rate is at 1.90%. Presently there isn\u2019t any domestic or geopolitical reason for long term interest rate to decline\u2026no need for safety and the Fed done lowering rates.<\/p>\n

Source: TBWS<\/small><\/p>\n

\"RATES
RATES CONTINUE TO FLATLINE AS TRADE AND IMPEACHMENT REMAIN IN THE HEADLINES<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"

MBS prices started lower this morning\u00a0while the bellwether 10 yr was unchanged from yesterday at 1.89%. MBS prices at 9:00 am EST -12 bps from yesterday\u2019s close. Weekly MBA mortgage applications last week;\u00a0-5.0%, purchases -2.0% while refinances -7.0%. There are no other economic releases today. The House will vote on the two articles of impeachment […]<\/p>\n","protected":false},"author":2,"featured_media":120,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-8754","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-intelliloan"],"_links":{"self":[{"href":"https:\/\/intelliloan.com\/insights\/wp-json\/wp\/v2\/posts\/8754","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/intelliloan.com\/insights\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/intelliloan.com\/insights\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/intelliloan.com\/insights\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/intelliloan.com\/insights\/wp-json\/wp\/v2\/comments?post=8754"}],"version-history":[{"count":1,"href":"https:\/\/intelliloan.com\/insights\/wp-json\/wp\/v2\/posts\/8754\/revisions"}],"predecessor-version":[{"id":8997,"href":"https:\/\/intelliloan.com\/insights\/wp-json\/wp\/v2\/posts\/8754\/revisions\/8997"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/intelliloan.com\/insights\/wp-json\/wp\/v2\/media\/120"}],"wp:attachment":[{"href":"https:\/\/intelliloan.com\/insights\/wp-json\/wp\/v2\/media?parent=8754"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/intelliloan.com\/insights\/wp-json\/wp\/v2\/categories?post=8754"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/intelliloan.com\/insights\/wp-json\/wp\/v2\/tags?post=8754"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}