Back to top

Market Commentary

Home
Market Commentary


 
Today's Coupons
 
  10-Year Notes   96-08 (+11)  
 
  FN 3.5% Coupon   102-13 (+09.5)  
 
  Support   2.551%  
 
  Resistance   2.428%  
 
 
 
 
Friday, February 3, 2017
 
 
The UST 10-Year yield is at 2.438% this morning after closing at 2.475% yesterday.

This morning, U.S. Treasury yields dropped and as the Bureau of Labor Statistics reported a slowing in wage growth in spite of large hiring increases across most sectors. The slack suggested a less than robust labor market as previously believed, increasing the possibility that the Fed would not increase rates in the near future.

Nonfarm payroll employment growth for the month of January rose 227K, up 70K from December 2016. The Private sector added 237K jobs, the second largest growth in 12 months, while the average hourly earnings were only up 0.10% vs. the expected 0.30%. The Unemployment rate rose 0.10% to 4.80% as more people joined the workforce.

Factory orders increased more than expected in December, hiking by 1.30% vs. a 2.30% drop the previous month. Markit US Services & Composite PMI increased to 55.60 and 55.80 respectively. Order for Durable Goods dropped 0.50%.

The curve has bull-flattened with the UST 10-Year 3.7 bps down from prior closing.

Have A Fantastic Weekend!

 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  01/30 Personal Income 05:30 Dec 0.40% 0.30% 0.00% 0.10%  
                   
  01/30 Personal Spending 05:30 Dec 0.50% 0.50% 0.20% -  
                   
  01/30 PCE Deflator MoM 05:30 Dec 0.20% 0.20% 0.00% 0.10%  
                   
  01/30 PCE Deflator YoY 05:30 Dec 1.70% 1.60% 1.40% -  
                   
  01/30 PCE Core MoM 05:30 Dec 0.10% 0.10% 0.00% -  
                   
  01/30 PCE Core YoY 05:30 Dec 1.70% 1.70% 1.60% 1.70%  
                   
  01/30 Pending Home Sales MoM 07:00 Dec 1.00% 1.60% -2.50% -  
                   
  01/30 Dallas Fed Manf. Activity 07:30 Jan 15.00 22.10 15.50 17.70  
                   
  01/31 Employment Cost Index 05:30 4Q 0.60% 0.50% 0.60% -  
                   
  01/31 S&P CoreLogic CS 20-City YoY NSA 06:00 Nov 5.03% 5.27% 5.10% 5.09%  
                   
  01/31 S&P CoreLogic CS US HPI YoY NSA 06:00 Nov - 5.64% 5.61% 5.46%  
                   
  02/01 MBA Mortgage Applications 04:00 27 Jan - -3.20% 4.00% -  
                   
  02/01 ADP Employment Change 05:15 Jan 168K 246K 153K 151K  
                   
  02/01 Markit US Manufacturing PMI 06:45 Jan F 55.10 55.00 55.10 -  
                   
  02/01 ISM Manufacturing 07:00 Jan 55.00 56.00 54.70 54.50  
                   
  02/01 ISM Prices Paid 07:00 Jan 65.50 69.00 65.50 -  
                   
  02/01 Construction Spending MoM 07:00 Dec 0.20% -0.20% 0.90% -  
                   
  02/01 FOMC Rate Decision (Upper Bound) 11:00 1 Feb 0.75% 0.75% 0.75% -  
                   
  02/01 FOMC Rate Decision (Lower Bound) 11:00 1 Feb 0.50% 0.50% 0.50% -  
                   
  02/02 Challenger Job Cuts YoY 04:30 Jan - -38.80% 42.40% -  
                   
  02/02 Nonfarm Productivity 05:30 4Q P 1.00% 1.30% 3.10% 3.50%  
                   
  02/02 Initial Jobless Claims 05:30 28 Jan 250K 246K 259K 260K  
                   
  02/02 Continuing Claims 05:30 21 Jan 2063K 2064K 2100K 2103K  
                   
  02/02 Bloomberg Consumer Comfort 06:45 29 Jan - 46.60 45.20 -  
                   
  02/03 Change in Nonfarm Payrolls 05:30 Jan 180K 227K 156K 157K  
                   
  02/03 Unemployment Rate 05:30 Jan 4.70% 4.80% 4.70% -  
                   
  02/03 Average Hourly Earnings MoM 05:30 Jan 0.30% 0.10% 0.40% 0.20%  
                   
  02/03 Average Hourly Earnings YoY 05:30 Jan 2.70% 2.50% 2.90% 2.80%  
                   
  02/03 Labor Force Participation Rate 05:30 Jan - 62.90% 62.70% -  
                   
  02/03 Underemployment Rate 05:30 Jan - 9.40% 9.20% -  
                   
  02/03 Markit US Services PMI 06:45 Jan F - 55.60 55.10 -  
                   
  02/03 Markit US Composite PMI 06:45 Jan F - 55.80 55.40 -  
                   
  02/03 Factory Orders 07:00 Dec 0.50% 1.30% -2.40% -2.30%  
                   
  02/03 Durable Goods Orders 07:00 Dec F -0.40% -0.50% -0.40% -  
                   
  02/03 Durables Ex Transportation 07:00 Dec F - 0.50% 0.50% -  
                   
 
 
 
 
Helpful Links
  Visit Us Online   Submit Loan  
  Get Approved   Resolve Loan Conditions  
  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  
 
©2017 Sun West Mortgage Company, Inc. All Rights Reserved