Back to top

Market Commentary

Home
Market Commentary


 
Today's Coupons
 
  10-Year Notes   103-24.5 (+16.5)  
 
  FN 3.5% Coupon   100-0.5 (+09.5)  
 
  Support   3.237%  
 
  Resistance   2.543%  
 
 
 
 
Friday, January 11, 2019
 
 
Market opened today’s session with treasuries rallying across all maturities. 10-Year treasury yield is at 2.6865, 5.56 bps decreased from prior closing of 2.7421.

Treasuries advanced and stocks slipped even after Fed Chair Powell reiterated Fed’s patience with further rate hikes yesterday. Despite of growing optimism around the trade talk where officials from both countries are working on arrangements of higher-level discussion, there’s still uncertainty looming around the ongoing border wall dispute. With the partial government shutdown entering its 21st day today which is now poised to become the longest lapse in federal funding, about 800,000 federal employees are set to miss their first paychecks, and the probability of President Trump declaring a national emergency is increased.

The headline CPI fell 0.10% in December which was in line with consensus while core CPI advanced 0.20% last month vs. the same consensus and prior readings. YoY change in both headline and core also came in line with estimates at 1.90% and 2.20%, respectively. Treasury Monthly Budget Statement which was scheduled to release today has been postponed by the government shutdown.

The curve has bull-flattened with UST 10-Year yield down 5.56 bps.

 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  01/07 ISM Non-Manufacturing Index 07:00 Dec 58.50 57.60 60.70 -  
                   
  01/08 NFIB Small Business Optimism 03:00 Dec 103.00 104.40 104.80 -  
                   
  01/08 JOLTS Job Openings 07:00 Nov 7050 - 7079 -  
                   
  01/09 MBA Mortgage Applications 04:00 4 Jan - 23.50% -8.50% -
                   
  01/09 FOMC Meeting Minutes 11:00 19 Dec - - - -  
                   
  01/10 Initial Jobless Claims 05:30 5 Jan 226k 216k 231k 233k  
                   
  01/10 Continuing Claims 05:30 29 Dec 1740k 1722k 1740k 1750k  
                   
  01/10 Bloomberg Consumer Comfort 06:45 6 Jan - 58.50 59.60 -  
                   
  01/11 CPI MoM 05:30 Dec -0.10% -0.10% 0.00% -  
                   
  01/11 CPI YoY 05:30 Dec 1.90% 1.90% 2.20% -  
                   
 
 
 
 
Helpful Links
  Visit Us Online   Submit Loan  
  Get Approved   SeeMyLoanStatusTM  
  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  
 
©2019 Sun West Mortgage Company, Inc. All Rights Reserved