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Market Commentary


 
Today's Coupons
 
  10-Year Notes   96-19 (+06.5)  
 
  FN 3.5% Coupon   102-17.5 (+03.5)  
 
  Support   2.513%  
 
  Resistance   2.386%  
 
 
 
 
Tuesday, February 7, 2017
 
 
The UST 10-Year yield is at 2.406% this morning after closing at 2.409% yesterday.

This morning, U.S. Treasuries are lower across the curve following ECB President Draghi’s comments on the possibility of further asset purchases from other central banks through 2018 in spite of a recent surge in inflation. Also, in yesterday's Fed Speak, Philadelphia Fed President Patrick Harker stated that a possible rate hike in March is still on the table.

In economic news, the U.S. Trade deficit for goods and services narrowed for the first time in 3 months, shrinking to $44.30 Billion for the month of December, vs. $45.70 Billion in November 2016. Exports rose 2.70% and imports rose 1.50%. The JOLTS Job Openings report, a measure of currently available job openings in the labor market slightly declined in to 5501 in the month of December from 5505 as revised in November.

There will be a 3-Year Treasury auction at 10:00 AM (PT) today and a 10-Year auction Wednesday.

The curve has bull-flattened with the UST 10-Year 0.3 bp down from prior closing.

 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  02/06 No Data - - - - - -  
                   
  02/07 Trade Balance 05:30 Dec -$45.00 B -$44.30 B -$45.20 B -$45.70 B  
                   
  02/07 JOLTS Job Openings 07:00 Dec 5580 5501 5522 5505  
                   
  02/08 MBA Mortgage Applications 04:00 3 Feb - - -3.20% -  
                   
  02/09 Initial Jobless Claims 05:30 4 Feb 249K - 246K -  
                   
  02/09 Continuing Claims 05:30 28 Jan 2058K - 2064K -  
                   
  02/09 Bloomberg Consumer Comfort 06:45 5 Feb - - 46.60 -  
                   
  02/09 Wholesale Trade Sales MoM 07:00 Dec - - 0.40% -  
                   
  02/09 Wholesale Inventories MoM 07:00 Dec F 1.00% - 1.00% -  
                   
  02/10 Import Price Index MoM 05:30 Jan 0.20% - 0.40% -  
                   
  02/10 Import Price Index YoY 05:30 Jan 3.30% - 1.80% -  
                   
  02/10 U. of Mich. Sentiment 07:00 Feb P 97.80 - 98.50 -  
                   
  02/10 Monthly Budget Statement 11:00 Jan $43.00 B - -$27.50 B -  
                   
 
 
 
 
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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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