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Market Commentary


 
Today's Coupons
 
  10-Year Notes   96-10.5 (-16.5)  
 
  FN 3.5% Coupon   102-14 (-12)  
 
  Support   2.448%  
 
  Resistance   2.305%  
 
 
 
 
Friday, January 13, 2017
 
 
The UST 10-Year yield is at 2.418% this morning after closing at 2.363% prior.

Market opened with treasuries higher across the curve this morning, but has since been on a downwardly trend after several significant economic data were received showing wholesale price-growth accelerated in 2016.

Producer Price Index Final Demand MoM and YoY both came in as expected, rising 0.30% and 1.60% in December respectively. PPI Ex Food and Energy MoM had a 0.20% increase which was slightly better than the 0.10% expectation, while PPI Ex Food and Energy YoY jumped 1.60% versus a 1.60% increase prior. Consumer spending remained moderate as Retail Sales Advance MoM rose 0.60% in December versus a 0.20% (revised) rise in November, while Retail Sales Ex Auto MoM increased below expectation at 0.20% versus 0.50% consensus. Consumer confidence came in below predictions as the University of Michigan Sentiment January preliminary reading reported at 98.10 versus 98.50 consensus.

The curve has bear-steepened with the UST 10-Year up 5.5 bps from prior closing.

Have A Great Weekend!

 
 
   
 
   
 
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 - 5.80% 0.10% -  
                   
  01/12 Import Price Index MoM 05:30 Dec 0.70% 0.40% -0.30% -0.20%  
                   
  01/12 Initial Jobless Claims 05:30 7 Jan 255K 247K 235K 237K  
                   
  01/12 Continuing Claims 05:30 31 Dec 2087K 2087K 2112K 2116K  
                   
  01/12 Import Price Index YoY 05:30 Dec 1.80% 1.80% -0.10% 0.10%  
                   
  01/12 Bloomberg Consumer Comfort 06:45 8 Jan - 45.10 45.50 -  
                   
  01/12 Monthly Budget Statement 11:00 Dec -$26.00 B -$27.50 B -$136.70 B    
                   
  01/13 PPI Final Demand MoM 05:30 Dec 0.30% 0.30% 0.40% -  
                   
  01/13 PPI Final Demand YoY 05:30 Dec 1.60% 1.60% 1.30% -  
                   
  01/13 Retail Sales Advance MoM 05:30 Dec 0.70% 0.60% 0.10% 0.20%  
                   
  01/13 Business Inventories 07:00 Nov 0.60% 0.70% -0.20% -0.10%  
                   
  01/13 U. of Mich. Sentiment 07:00 Jan P 98.50 98.10 98.20 -  
                   
 
 
 
 
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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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