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Market Commentary

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Market Commentary


 
Today's Coupons
 
  10-Year Notes   96-26 (-11)  
 
  FN 3.5% Coupon   102-18 (-07)  
 
  Support   2.422%  
 
  Resistance   2.305%  
 
 
 
 
Wednesday, January 18, 2017
 
 
Market opened today with treasuries selling-off across all maturities. 10-Year treasury yield is at 2.373, increased 3.9 bps from prior closing of 2.326.

We saw majority of the data released today depicting a positive outlook for the economy. Mortgage applications index rose for a third consecutive week by 0.80% after rising 5.80% prior. Purchases and Refinances went separate ways as purchases decreased by 5.20% and refinances increased by 6.80%. CPI climbed 0.30% vs. 0.20% prior, majorly driven by fuel prices which pushed inflation closer to Fed's goal. Industrial Production was also up 0.80% vs. 0.60% consensus after declining 0.40% prior.

Fed will be releasing Beige Book at 11:00 AM (PT) which is expected to shed some light on where the economy is heading towards. Fed Chair Yellen is scheduled to speak in San Francisco at 12:00 PM (PT).

The curve has bear-steepened with UST 10-Year yield up 3.9 bps.

 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  01/16 No Data - - - - - -  
                   
  01/17 Empire Manufacturing 05:30 Jan 8.50 6.50 9.00 7.60  
                   
  01/18 MBA Mortgage Applications 04:00 13 Jan - 0.80% 5.80% -  
                   
  01/18 CPI MoM 05:30 Dec 0.30% 0.30% 0.20% -  
                   
  01/18 CPI YoY 05:30 Dec 2.10% 2.10% 1.70% -  
                   
  01/18 Real Avg Weekly Earnings YoY 05:30 Dec - 0.20% 0.50% 0.20%  
                   
  01/18 Industrial Production MoM 06:15 Dec 0.60% 0.80% -0.40% -0.70%  
                   
  01/18 Capacity Utilization 06:15 Dec 75.40% 75.50% 75.00% 74.90%  
                   
  01/18 NAHB Housing Market Index 07:00 Jan 69.00 - 70.00 -  
                   
  01/18 Total Net TIC Flows 13:00 Nov - - -$18.80 B -  
                   
  01/19 Housing Starts 05:30 Dec 1187K - 1090K -  
                   
  01/19 Housing Starts MoM 05:30 Dec 8.90% - -18.70% -  
                   
  01/19 Building Permits 05:30 Dec 1225K - 1201K 1212K  
                   
  01/19 Building Permits MoM 05:30 Dec 0.70% - -4.70% -3.80%  
                   
  01/19 Initial Jobless Claims 05:30 14 Jan 252K - 247K -  
                   
  01/19 Continuing Claims 05:30 7 Jan - - 2087K -  
                   
  01/19 Philadelphia Fed Business Outlook 05:30 Jan 15.10 - 21.50 19.70  
                   
  01/19 Bloomberg Consumer Comfort 06:45 15 Jan - - 45.10 -  
                   
  01/20 No Data - - - - - -  
                   
 
 
 
 
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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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