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Market Commentary

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Market Commentary


 
Today's Coupons
 
  10-Year Notes   99-12.5 (-08) 1.692%  
 
  FN 3.5% Coupon   104-24.5 (-05)  
 
  Support   2.160%  
 
  Resistance   1.720%  
 
 
 
 
Today's Blurb Friday, February 12, 2016
 
 
        Import prices fell 1.10% in January (consensus -1.50%) following an upward revision in December from -1.20% to -1.10%. Import prices are down 6.20% YoY. Excluding fuel prices, import prices declined 0.20% in January and are down 2.90% YoY. Import Prices have risen only twice on a month over month basis since the start of 2015, largely due to weakness in commodity and energy prices. Export prices fell 0.80% in January, and are down 5.70% YoY. Retail Sales rose 0.20% in January (consensus +0.10%) for the third consecutive monthly advance, following an upward revision in December from -0.10% to 0.20%. Excluding automobiles, Retail Sales rose 0.10% in January. Retail Sales are up 1.40% YoY and 1.00% YoY excluding automobiles. Gasoline station sales fell 3.10% and contributed a 0.23% drag on the headline Retail Sales number. Treasuries have halted their advance after reaching the lowest 10-Year yield since 2012. 10-Year yields fell to 1.530% yesterday compared to the 2012 record of 1.379% following Janet Yellen's semi-annual testimony in which she admitted that negative rates are not “off the table” for the FOMC. The curve has steepened with 2s10s up 2.3 bps.
Have A Splendid Weekend!
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  02/08 No Data - -   - - - -  
                   
  02/09 JOLTS Job Openings 07:00 Dec    5413.00   5607.00    5431.00  5346.00  
                   
  02/09 Wholesale Inventories MoM 07:00 Dec -0.20% -0.10% -0.30% -0.40%  
                   
  02/09 Wholesale Trade Sales MoM 07:00 Dec -0.40% -0.30%  -1.00% -1.30%  
                   
  02/10 MBA Mortgage Applications 04:00 5 Feb   - 9.30%  -2.60% -  
                   
  02/11 Initial Jobless Claims 05:30 6 Feb   280K 269K   285K -  
                   
  02/11 Continuing Claims 05:30 30 Jan  2245K 2239K  2255K 2260K  
                   
  02/11   Bloomberg Consumer Comfort 06:45 7 Feb  - 44.50  44.20 -  
                   
  02/12 Import Price Index MoM 05:30 Jan   -1.50% -1.10%   -1.20% -1.10%  
                   
  02/12 Import Price Index YoY 05:30 Jan   -6.80% -6.20%   -8.20% -8.10%  
                   
  02/12 Retail Sales Advance MoM 05:30 Jan    0.10%  0.20%   -0.10% 0.20%  
                   
  02/12 Business Inventories 07:00 Dec    0.10% 0.10%   -0.20% -0.10%  
                   
  02/12 U. of Mich. Sentiment 07:00 Feb P   92.30 90.70 92.00 -  
                   
 
 
 
 
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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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