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Market Commentary


 
Today's Coupons
 
  10-Year Notes   98-29 (-125)  
 
  FN 3.5% Coupon   102-21.5 (-06)  
 
  Support   2.513%  
 
  Resistance   2.325%  
 
 
 
 
Thursday, February 9, 2017
 
 
The UST 10-Year yield is at 2.364% this morning after closing at 2.322% yesterday.

This morning, the U.S. Department of Labor released the seasonally adjusted Initial Jobless Claims for the week ended February 4th, claims dropped by 12K from the previous week to 234K; marking the 101-consecutive week of claims below 300K. Continuing Claims increased to 2078K from the previously revised 2063K the week prior. Although claims for those continuing to receive benefits did not decrease, the data indicates a reduction in layoffs, consistent with signs of a strengthening labor market.

The Consumer Comfort Index rose to 47.20 for the week ended February 5th, the highest level since April 2015 as views of the economy and personal finances continued to rise. The Index has remained above 39 for 9 weeks, the longest stretch since early 2007, prior to the U.S. recession. Wholesale Inventories rose 1.00% to $601.10 Billion according to the Census Bureau.

Later this morning, St. Louis Fed President James Bullard will be speaking at a financial forum regarding the 2017 outlook for U.S. monetary policy.

The curve has bear-steepened with the UST 10-Year 4.2 bps up 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 234K 246K -  
                   
  02/09 Continuing Claims 05:30 28 Jan 2058K 2078K 2064K 2063K  
                   
  02/09 Bloomberg Consumer Comfort 06:45 5 Feb - 47.20 46.60 -  
                   
  02/09 Wholesale Trade Sales MoM 07:00 Dec - 2.60% 0.40% 0.50%  
                   
  02/09 Wholesale Inventories MoM 07:00 Dec F 1.00% 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 98.00 - 98.50 -  
                   
  02/10 Monthly Budget Statement 11:00 Jan $45.00 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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