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Market Commentary


 
Today's Coupons
 
  10-Year Notes   103-09.5 (+20.5) 1.879%  
 
  FN 3.5% Coupon   104-22 (+07)  
 
  Support   2.260%  
 
  Resistance   1.900%  
 
 
 
 
Today's Blurb Tuesday, February 2, 2016
 
 
         There is no data on the calendar for today ahead of tomorrow's ADP Employment Report. While ADP does not always accurately predict the outcome of the monthly Nonfarm Payrolls report, it did in December. ADP called for an over-sized gain that was realized in a strong Payrolls report to end 2015. ADP is expected to slow from 257K to 193K in January. Treasuries are up this morning as dampening stock and commodity valuations coupled with low (and some even negative) yields abroad are leading investors to safe haven debt. In addition to the spur in safe haven demand, many market participants are speculative that the Fed will have the stable economic backdrop necessary to further raise rates this year. The curve has flattened with 2s10s down 3.6 bps.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  02/01 Personal Income 05:30 Dec   0.20% 0.30% 0.30% -  
                   
  02/01 Personal Spending 05:30 Dec   0.10% 0.00% 0.30% 0.50%  
                   
  02/01 PCE Deflator MoM 05:30 Dec   0.00% -0.10%  0.00% 0.10%  
                   
  02/01 PCE Deflator YoY 05:30 Dec    0.60%  0.60%  0.40% -  
                   
  02/01 PCE Core MoM 05:30 Dec   0.10% 0.00%  0.10% 0.20%  
                   
  02/01 PCE Core YoY 05:30 Dec  1.40% 1.40% 1.30% 1.40%  
                   
  02/01 Markit US Manufacturing PMI 06:45 Jan F 52.60 52.40 52.70 -  
                   
  02/01 ISM Manufacturing 07:00 Jan 48.40 48.20 48.20 48.00  
                   
  02/01 Construction Spending MoM 07:00 Dec 0.60%   0.10% -0.40% -0.60%  
                   
  02/02 ISM New York 06:45 Jan - 54.60   62.00 -  
                   
  02/03 MBA Mortgage Applications 04:00 29 Jan   -   -   8.80% -  
                   
  02/03 ADP Employment Change 05:15 Jan    193K -   257K -  
                   
  02/03 Markit US Services PMI 06:45 Jan F 53.70 - 53.70 -  
                   
  02/03 Markit US Composite PMI 06:45 Jan F - - 53.70 -  
                   
  02/04 Challenger Job Cuts YoY 04:30 Jan - - -27.60% -  
                   
  02/04 Nonfarm Productivity 05:30 4Q P -1.80% - 2.20% -  
                   
  02/04 Initial Jobless Claims 05:30 30 Jan   278K -   278K -  
                   
  02/04 Continuing Claims 05:30 23 Jan  2240K -  2268K -  
                   
  02/04   Bloomberg Consumer Comfort 06:45 31 Jan  - -  44.60 -  
                   
  02/04 Factory Orders 07:00 Dec   -2.60% -   -0.20% -  
                   
  02/04 Durable Goods Orders 07:00 Dec F - -   -5.10% -  
                   
  02/05 Trade Balance 05:30 Dec    -$43.00 B - -$42.37 B -  
                   
  02/05 Change in Nonfarm Payrolls 05:30 Jan    190K - 292K -  
                   
  02/05 Unemployment Rate 05:30 Jan     5.00% - 5.00% -  
                   
  02/05 Average Hourly Earnings MoM 05:30 Jan     0.30% - 0.00% -  
                   
  02/05 Average Hourly Earnings YoY 05:30 Jan    2.20% - 2.50% -  
                   
 
 
 
 
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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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