Back to top

Market Commentary

Home
Market Commentary


 
Today's Coupons
 
  10-Year Notes   103-11 (-02)  
 
  FN 3.5% Coupon   99-26 (-02)  
 
  Support   3.237%  
 
  Resistance   2.543%  
 
 
 
 
Thursday, January 17, 2019
 
 
Market opened today’s session with treasuries slightly edging lower. 10-Year treasury yield is at 2.7325, 1.07 bps increased from prior closing of 2.7218.

The US federal authorities are investigating Chinese technology giant, Huawei Technologies, for allegedly stealing trade secrets from US partner companies which added more stress to already lingering tensions between the two countries. US equity futures sold-off on the news as well as from disappointing earnings reports from Societe Generale and Morgan Stanley. Both treasuries and WTI crude inched lower this morning. In Washington, with the dispute between the two sides still in a stalemate, many federal employees citied financial hardship as a reason for not reporting to work. Lastly, on the Brexit front, UK Prime Minister May survived a vote of no confidence, following her historic defeat in her Brexit deal.

Leaning against number of recent data indicating an economic slowdown, Philadelphia Fed Business Outlook surprisingly surged to 17.00 in January from a downwardly revised of 9.10 in December vs. survey of 9.50. Despite of the ongoing government shutdown, Initial Jobless Claims fell to 213k from 216k prior vs. consensus of 220k. On the contrary, Continuing Claims climbed to 1737k from revised prior of 1719k vs. consensus of 1734k. Lastly, Bloomberg Consumer Comfort fell to the lowest since November 2016 to 58.10 from 58.50 prior. Housing Starts and Building Permits data are postponed by the shutdown. The US Treasury is scheduled to auction off $13 Billion of 10-Year TIPS at 10:00 AM (PT) today.

The curve has bear-flattened with UST 10-Year yield up 1.07 bps.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  01/14 No Data - - - - - -  
                   
  01/15 Empire Manufacturing 05:30 Jan 10.00 3.90 10.90 11.50  
                   
  01/15 PPI Final Demand MoM 05:30 Dec -0.10% -0.20% 0.10% -  
                   
  01/15 PPI Final Demand YoY 05:30 Dec 2.50% 2.50% 2.50% -  
                   
  01/16 MBA Mortgage Applications 04:00 11 Jan - 13.50% 23.50% -
                 
  01/16 Import Price Index MoM 05:30 Dec -1.30% -1.00% -1.60% -1.90%
                 
  01/16 Import Price Index YoY 05:30 Dec -0.80% -0.60% 0.70% 0.50%
                 
  01/16 Export Price Index MoM 05:30 Dec -0.70% -0.60% -0.90% -0.80%
                 
  01/16 Export Price Index YoY 05:30 Dec - 1.10% 1.80% -
                   
  01/17 Initial Jobless Claims 05:30 12 Jan 220k 213k 216k -  
                   
  01/17 Continuing Claims 05:30 5 Jan 1734K 1737k 1722k 1719k  
                   
  01/17 Philadelphia Fed Business Outlook 05:30 Jan 9.50 17.00 9.40 9.10  
                   
  01/17 Bloomberg Consumer Comfort 06:45 13 Jan - 58.10 58.50 -  
                   
  01/18 Capacity Utilization 06:15 Dec 78.50% - 78.50% -  
                   
  01/18 U. of Mich. Sentiment 07:00 Jan P 96.90 - 98.30 -  
                   
 
 
 
 
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