Back to top

Market Commentary

Home
Market Commentary


 
Today's Coupons
 
  10-Year Notes   95-19 (-16.5)  
 
  FN 3.5% Coupon   102-03 (-10)  
 
  Support   2.574%  
 
  Resistance   2.433%  
 
 
 
 
Tuesday, January 3, 2017
 
 
The UST 10-Year yield is at 2.500% this morning after closing at 2.444% at the end of 2016.

Treasuries sold off across the curve to begin 2017 after a report that showed China’s manufacturing sector expanded more than expected, and an employment data revealing that German jobless claims dropped by 17k in December.

The first week of 2017 starts off with a heavy set of U.S. economic calendar. This morning, Markit US Manufacturing PMI reported at 54.30, coming in just above the 54.20 expectation. ISM Manufacturing came in at 54.70 versus 53.20 prior, and ISM Prices Paid jumped to 65.50 versus 54.50 prior. Construction Spending MoM exceeded expectations, coming in at 0.90% versus 0.50% consensus.

Tomorrow the Fed will release the Minutes from its December meeting where the Committee elected the first and only rate hike in 2016. On Thursday, ADP Employment Change, Initial and Continuing Claims, and Markit US Services and Composite PMI data will be released. Lastly, the December nonfarm payroll report and unemployment report will be released on Friday, along with November’s trade balance.

The curve has bear-steepened with the UST 10-Year up 5.6 bps from prior closing.

 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  01/02 No Data - - - - - -  
                   
  01/03 Markit US Manufacturing PMI 06:45 Dec F 54.20 54.30 54.20 -  
                   
  01/03 Construction Spending MoM 07:00 Nov 0.50% 0.90% 0.50% 0.60%  
                   
  01/04 MBA Mortgage Applications 04:00 30 Dec - - - -  
                   
  01/04 FOMC Meeting Minutes 11:00 14 Dec - - - -  
                   
  01/05 Challenger Job Cuts YoY 04:30 Dec - - -13.00% -  
                   
  01/05 ADP Employment Change 05:15 Dec 175 K - 216 K -  
                   
  01/05 Initial Jobless Claims 05:30 31 Dec 260 K - 265 K -  
                   
  01/05 Continuing Claims 05:30 24 Dec 2051 K - 2102 K -  
                   
  01/05 Markit US Services PMI 06:45 Dec F 53.40 - 53.40 -  
                   
  01/05 Markit US Composite PMI 06:45 Dec F - - 53.70 -  
                   
  01/05 Bloomberg Consumer Comfort 06:45 1 Jan - - 46.00 -  
                   
  01/06 Trade Balance 05:30 Nov -$44.70 B - -$42.60 B -  
                   
  01/06 Change in Nonfarm Payrolls 05:30 Dec 175 K - 178 K -  
                   
  01/06 Unemployment Rate 05:30 Dec 4.70% - 4.60% -  
                   
  01/06 Average Hourly Earnings MoM 05:30 Dec 0.30% - -0.10% -  
                   
  01/06 Average Hourly Earnings YoY 05:30 Dec 2.80% - 2.50% -  
                   
  01/06 Factory Orders 07:00 Nov -2.20% - 2.70% -  
                   
  01/06 Factory Orders Ex Trans 07:00 Nov - - 0.80% -  
                   
  01/06 Durable Goods Orders 07:00 Nov F - - -4.60% -  
                   
  01/06 Durables Ex Transportation 07:00 Nov F - - 0.50% -  
                   
 
 
 
 
Helpful Links
  Visit Us Online   Submit Loan  
  Get Approved   Resolve Loan Conditions  
  Download Rate Sheet   Conventional Program Guidelines  
  Price & Lock   Government Program Guidelines  
 
 
   
 
  This information is provided solely for informational use and is not intended as trading or investment advice in any manner whatsoever. Sun West Mortgage Company, Inc. is not a licensed or registered broker or dealer and cannot provide investment strategies or recommendations. This information is provided to licensed brokers/lenders only and may not be copied or distributed to customers or potential customers. All loans are subject to approval. Certain restrictions may apply. Listed pricing is a morning indication only. Program rates, prices, guidelines, fees, costs, terms and conditions are subject to change without notice  
 
©2016 Sun West Mortgage Company, Inc. All Rights Reserved