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Market Commentary


 
Today's Coupons
 
  10-Year Notes   96-22.5 (-02.5)  
 
  FN 3.5% Coupon   102-21.5 (-0.5)  
 
  Support   2.514%  
 
  Resistance   2.336%  
 
 
 
 
Tuesday, January 10, 2017
 
 
The UST 10-Year yield is at 2.372% this morning after closing at 2.365% prior.

The market opened with treasuries modestly lower across the curve but has since rallied to recover most of the early losses.

This morning a very strong small business optimism data showed that the NFIB index for December jumped to 105.80 from 98.40 in November. Wholesale Inventories MoM came in at 1.00% versus 0.90% prior. Wholesale Trade Sales MoM came in at 0.40% versus 0.50% consensus.

In light of the strong auctions at the end of December, markets will be focused on the strength and investor interest surrounding the $24 Billion, 3-Year treasury auction at 10:00 AM (PT) today. There is also a $20 Billion, 10-Year treasury auction on Wednesday and a $12 Billion, 30-Year treasury auction on Thursday.

The remainder of this week’s light economic data continues with Wednesday’s MBA Mortgage Applications, Thursday’s Initial Jobless and Continuing Claims, and Friday’s PPI Ex Food and Energy MoM and PPI Final Demand MoM.

The curve has bear-steepened with the UST 10-Year up 0.7 bp from prior closing.

 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  01/09 Consumer Credit 12:00 Nov $18.350 B - $16.018 B -  
                   
  01/10 Wholesale Inventories MoM 07:00 Nov F 0.90% 1.00% 0.90% -  
                   
  01/10 Wholesale Trade Sales MoM 07:00 Nov 0.50% 0.40% 1.40% 1.10%  
                   
  01/10 JOLTS Job Openings 07:00 Nov 5500 5522 5534 5451  
                   
  01/11 MBA Mortgage Applications 04:00 6 Jan - - 0.10% -  
                   
  01/12 Import Price Index MoM 05:30 Dec 0.70% - -0.30% -  
                   
  01/12 Initial Jobless Claims 05:30 7 Jan 255K - 235K -  
                   
  01/12 Continuing Claims 05:30 31 Dec 2084K - 2112K -  
                   
  01/12 Import Price Index YoY 05:30 Dec 1.80% - -0.10% -  
                   
  01/12 Bloomberg Consumer Comfort 06:45 8 Jan - - 45.50 -  
                   
  01/13 PPI Final Demand MoM 05:30 Dec 0.30% - 0.40% -  
                   
  01/13 PPI Final Demand YoY 05:30 Dec 1.60% - 1.30% -  
                   
  01/13 Retail Sales Advance MoM 05:30 Dec 0.40% - 0.10% -  
                   
  01/13 Business Inventories 07:00 Nov - - -0.20% -  
                   
  01/13 U. of Mich. Sentiment 07:00 Jan P - - 98.20 -  
                   
  01/13 Monthly Budget Statement 11:00 Dec - - -$136.70 B -  
                   
 
 
 
 
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  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  
 
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