Branch Manager- Broker- Loan Originator
TruLuxe Capital- Powered By My Community Mortgage
License:
833399

Quick Rally Toward Key Resistance Just Before The Open

Quick Rally Toward Key Resistance Just Before The Open

Bonds spend most of the night trading sideways to slightly stronger. Oil prices fell sharply, making it tempting to conclude that's the reason that 10yr yields were almost 7bps lower at 9am. But more than half of the oil rally was over before Treasuries began rallying. There was an obvious and uncommonly large volume spike in Treasuries around 7:50am ET. Oil was still falling at the time. It likely contributed to the bond buying, but not enough that we'd give it primary credit. The nature of the Treasury rally is highly suggestive of massive accounts partaking in quarter-end rebalancing (just a bigger version of month-end trading). Despite the surge, yields are only now getting back to the same old 4.42% technical resistance level that's blocked further progress since late May.

Latest Video Analysis

Mostly Sideways and Lacking Inspiration

MBS & Treasury Markets
UMBS 5.0
98.44
+0.46 
10YR TREASURY
4.408
-0.090 
6/24/2026 1:09PM EST
Bonds spend most of the night trading sideways to slightly stronger. Oil prices fell sharply, making it tempting to conclude that's the reason that 10yr yields were almost 7bps lower at 9am. But more than half of the oil rally was over before Treasuries began rallying. There was an obvious and uncommonly large volume spike in Treasuries around 7:50am ET. Oil was still falling at the time. It likely contributed to the bond buying, but not enough that we'd give it primary credi...   READ MORE
Today's Mortgage Rates
30YR Fixed
6.55%
-0.10% 
15YR Fixed
6.15%
-0.04% 
6/24/2026
Rate momentum shifted noticeably on Wednesday. The underlying bond market saw heavy buying in pre-market trading--likely a result of large-scale quarter-end rebalancing among the largest money managers (i.e. adjusting balance of stocks vs bonds in investment portfolios). Excess demand for bonds = lower rates, all else equal. It also hasn't hurt that oil prices continue declining as bond demand has frequently benefited from the lower implied inflation. The average top-tier...   READ MORE
Economic Calendar
Time Event Period Actual Forecast Prior
Wednesday, Jun 24
7:00AM Jun/19 Mortgage Market Index Jun/19 272.1 269.5
7:00AM Jun/19 MBA Refi Index Jun/19 834.2 810.2
7:00AM Jun/19 MBA Purchase Index Jun/19 169.7 170.8
8:30AM May Building Permits (ml) May 1.41M 1.413M 1.423M
9:20AM NY Fed Bill Purchases 4 to 12 months (%) $3.319 billion
10:00AM May New Home Sales (ml) May 0.58M 0.64M 0.622M
10:00AM May New Home Sales (%) (%) May -7.3% -6.2%
10:30AM Jun/19 Crude Oil Inventory (ml) Jun/19 -6.088M -4.5M -8.262M
11:30AM 2-Yr Note Auction (bl) 28
11:30AM 2-Year FRN Auction (%) 0.079% 0.089%
1:00PM 5-Yr Note Auction (bl) 70
4:00PM Fed Bank Stress Test Results
Thursday, Jun 25
8:30AM Jun/13 Continued Claims (k) Jun/13 1800K 1810K
8:30AM Jun/20 Jobless Claims (k) Jun/20 225K 226K
8:30AM May PCE prices (m/m) (%) May 0.5% 0.4%
8:30AM Q1 GDP Final Sales (%) Q1 1.5% 0.3%
8:30AM Q1 GDP (%) Q1 1.6% 0.5%
8:30AM Q1 Corporate profits (% ) Q1 -0.4% 5.7%
8:30AM May PCE (y/y) (%) May 4.1% 3.8%
8:30AM May Durable goods (%) May -4.5% 7.9%
8:30AM May Core PCE (y/y) (%) May 3.4% 3.3%
8:30AM May Core CapEx (%) May 0.6% -1.1%
8:30AM Q1 PCE Prices (Q/Q) Q1 4.5% 2.9%
8:30AM May Core PCE (m/m) (%) May 0.3% 0.2%
8:30AM Q1 Core PCE Prices QoQ Q1 4.4% 2.7%
1:00PM 7-Yr Note Auction (bl) 44
3:40PM Fed Williams Speech
3:40PM Fed Williams Speech
6:30PM Fed Goolsbee Speech
6:30PM Fed Goolsbee Speech
Branch Manager- Broker- Loan Originator
TruLuxe Capital- Powered By My Community Mortgage
License:
833399