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Market Commentary


 
Today's Coupons
 
  10-Year Notes   95-20.5 (-10.5)  
 
  FN 3.5% Coupon   101-28 (-06)  
 
  Support   2.509%  
 
  Resistance   2.309%  
 
 
 
 
Wednesday, January 25, 2017
 
 
Treasuries reversed course again yesterday, moving lower throughout most of the day aside from some midday choppiness, but otherwise gradually erased Monday's entire rally. The downward trend has continued this morning as the market opened with treasuries lower across the curve. The UST 10-Year yield is currently at 2.495% after closing at 2.465% prior.

MBA Mortgage Applications for the week that ended on January 20th were released this morning and showed that applications in the U.S. rose for a fourth consecutive week. The index climbed 4.00% after rising 0.80% in the prior week, with refinances increasing 0.20% and the purchase index increasing 6.00%. The November FHFA House Price Index MoM was also released this morning, which came in just above expectations, rising 0.50% versus 0.40% consensus.

The curve has bear-flattened with the UST 10-Year up 3.0 bps from prior closing.

 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  01/23 No Data - - - - - -  
                   
  01/24 Markit US Manufacturing PMI 06:45 Jan P 54.50 55.10 54.30 -  
                   
  01/24 Existing Home Sales 07:00 Dec 5.52 M 5.49 M 5.61 M 5.65 M  
                   
  01/24 Existing Home Sales MoM 07:00 Dec -1.60% -2.80% 0.70% 1.40%  
                   
  01/24 Richmond Fed Manufact. Index 07:00 Jan 7.00 12.00 8.00 -  
                   
  01/25 MBA Mortgage Applications 04:00 20 Jan - 4.00% 0.80% -  
                   
  01/25 FHFA House Price Index MoM 06:00 Nov 0.40% 0.50% 0.40% 0.30%  
                   
  01/26 Wholesale Inventories MoM 05:30 Dec P 0.10% - 1.00% -  
                   
  01/26 Chicago Fed Nat Activity Index 05:30 Dec -0.05 - -0.27 -  
                   
  01/26 Initial Jobless Claims 05:30 21 Jan 247K - 234K -  
                   
  01/26 Continuing Claims 05:30 14 Jan 2040K - 2046K -  
                   
  01/26 Markit US Services PMI 06:45 Jan P 54.40 - 53.90 -  
                   
  01/26 Markit US Composite PMI 06:45 Jan P - - 54.10 -  
                   
  01/26 Bloomberg Consumer Comfort 06:45 22 Jan - - 45.20 -  
                   
  01/26 New Home Sales 07:00 Dec 588K - 592K -  
                   
  01/26 New Home Sales MoM 07:00 Dec -0.70% - 5.20% -  
                   
  01/26 Leading Index 07:00 Dec 0.50% - 0.00% -  
                   
  01/26 Kansas City Fed Manf. Activity 08:00 Jan 8.00 - 11.00 -  
                   
  01/27 GDP Annualized QoQ 05:30 4Q A 2.20% - 3.50% -  
                   
  01/27 Personal Consumption 05:30 4Q A 2.50% - 3.00% -  
                   
  01/27 GDP Price Index 05:30 4Q A 2.10% - 1.40% -  
                   
  01/27 Core PCE QoQ 05:30 4Q A 1.40% - 1.70% -  
                   
  01/27 Durable Goods Orders 05:30 Dec P 2.60% - -4.50% -  
                   
  01/27 Durables Ex Transportation 05:30 Dec P 0.50% - 0.60% -  
                   
  01/27 U. of Mich. Sentiment 07:00 Jan F 98.10 - 98.10 -  
                   
 
 
 
 
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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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