Good evening,
Geo-politics once again saved the day as the on again off again Ukraine / Russia ceasefire headlines rolled by. We started the morning bottom fishing around the 105:24 mark when out of nowhere the market popped to finally ended the day at 105:30.5. 105:30.5 is only a plus (0.5) lower than the high set last Friday and 5.5 ticks away from the all-time high of the year set back on June 30th. The trend remains our friend as MBSs look ready to re-test not only 106:00 but also 106:04. If MBSs can close above 106:04 we’re in new territory and might have a shot at 107:00!
Capital Markets
Primary Residential Mortgage, Inc.
1480 North 2200 West| Salt Lake City| Utah| 84116
Toll Free 1.800.255.2792
o Tick 1/32 or .03125
o MBS Mortgage Backed Security
o TBA To Be Announced (MBS with unknown future delivery)
o Spec Specified Pool
The contents in this memo are not an endorsement of any financial products or investments. PRMI assumes no liability, and will not make any recommendations with respect to the purchase or sale of any investment security or its derivatives.
Economic Calendar
Date/Time(Central)
|
Indicator
|
Period
|
Est.
|
Actual
|
Prior
|
Revised
|
9/2/2014 9:00 AM
|
ISM Manufacturing
|
AUG
|
57.0
|
59.0
|
57.1
| |
9/2/2014 9:00 AM
|
ISM Prices Paid
|
AUG
|
58.5
|
57.9
|
59.5
| |
9/2/2014 9:00 AM
|
Construction Spending (MoM)
|
JUL
|
1.0%
|
1.8%
|
-1.8%
|
-0.9%
|
9/3/2014 12:00 AM
|
Total Vehicle Sales
|
AUG
|
16.60M
|
16.40M
| ||
9/3/2014 12:00 AM
|
Domestic Vehicle Sales
|
AUG
|
13.20M
|
12.95M
| ||
9/3/2014 6:00 AM
|
MBA Mortgage Apps.
|
29-Aug
|
--
|
0.2%
|
2.8%
| |
9/3/2014 9:00 AM
|
Factory Orders
|
JUL
|
11.0%
|
1.1%
| ||
9/3/2014 1:00 PM
|
Fed's Beige Book Released
|
--
|
--
|
--
| ||
9/4/2014 7:15 AM
|
ADP Employment Change
|
AUG
|
220K
|
218K
| ||
9/4/2014 7:30 AM
|
Trade Balance
|
JUL
|
-$42.4B
|
-$41.5B
| ||
9/4/2014 7:30 AM
|
Initial Jobless Claims
|
30-Aug
|
300K
|
298K
| ||
9/4/2014 7:30 AM
|
Continuing Jobless Claims
|
23-Aug
|
2510K
|
2527K
| ||
9/4/2014 7:30 AM
|
Non-Farm Productivity
|
2Q F
|
2.4%
|
2.5%
| ||
9/4/2014 7:30 AM
|
Unit Labor Costs
|
2Q F
|
0.5%
|
0.6%
| ||
9/4/2014 9:00 AM
|
ISM Non-Manf. Composite
|
AUG
|
58.5
|
58.7
| ||
9/5/2014 7:30 AM
|
Change in Nonfarm Payrolls
|
AUG
|
230K
|
209K
| ||
9/5/2014 7:30 AM
|
Change in Manufact. Payrolls
|
AUG
|
20K
|
28K
| ||
9/5/2014 7:30 AM
|
Unemployment Rate
|
AUG
|
6.1%
|
6.2%
| ||
9/5/2014 7:30 AM
|
Avg. Hourly Earnings (MoM)
|
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