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Market Commentary


 
Today's Coupons
 
  10-Year Notes   97-00 (+14)  
 
  FN 3.5% Coupon   102-25.5 (+08.5)  
 
  Support   2.513%  
 
  Resistance   2.338%  
 
 
 
 
Wednesday, February 8, 2017
 
 
The UST 10-Year yield is at 2.352% this morning after closing at 2.394% yesterday.

U.S. Treasury yields are lower this morning having extended their longest rally since June. The bond market rallied following strong demand for overseas government bond sales and ahead of the $23 Billion 10-Year T-note auction later this morning.

In economic news, the sole release this morning was MBA Mortgage Applications, which improved by 2.30% for the week ended February 3rd, however, applications still remained 23.00% below last year’s level. FHA purchases were up 2.00% after falling 5.60% the week prior and VA refinances rose 9.80% following a 7.40% rise the previous week. The average 30-Year fixed rate mortgage is down to 4.350% vs. 4.390% last week.

The dollar weakened, with the DXY down 0.12% and crude oil prices are down to $51.79 per barrel.

The curve has bull-flattened with the UST 10-Year 4.2 bps 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 - 2.30% -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 0.30% - 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 97.90 - 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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