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Market Commentary


 
Today's Coupons
 
  10-Year Notes   97-28.5 (-15)  
 
  FN 3.5% Coupon   101-26.5 (-11.5)  
 
  Support   2.470%  
 
  Resistance   2.325%  
 
 
 
 
Tuesday, February 14, 2017
 
 
The UST 10-Year yield is at 2.435% this morning after closing at 2.437% yesterday.

This morning, U.S. Treasuries opened nearly unchanged ahead of Federal Reserve Chair Janet Yellen's testimony in Capitol Hill. Investor eagerly await to hear the Fed's rate hike plans and its stance on QE MBS reinvestment policies.

In economic news, the NFIB Small Business Optimism Index continued to climb in January edging to 105.90, the highest level since December 2004. The recent growth follows the new administration's pledge to revoke 2 regulations per every new one issued, as government regulations have continued to be among the primary issues for small-business owners. The Producer Price Index rose to 0.60% in January, the largest increase since 2012, primarily due to increasing fuel prices, which rose nearly 13.00% for the month. Removing the volatile food and energy, Core PPI only rose to 0.20%. YoY PPI remained unchanged at 1.60%, while Core PPI dropped 0.40% to 1.20%.

The curve has bear-flattened with the UST 10-Year 0.2 bp down from prior closing.

 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  02/13 No Data - - - - - -  
                   
  02/14 NFIB Small Business Optimism 03:00 Jan 105.00 105.90 105.80 -  
                   
  02/14 PPI Final Demand MoM 05:30 Jan 0.30% 0.60% 0.30% 0.20%  
                   
  02/14 PPI Final Demand YoY 05:30 Jan 1.50% 1.60% 1.60% -  
                   
  02/15 MBA Mortgage Applications 04:00 10 Feb - - 2.30% -  
                   
  02/15 Empire Manufacturing 05:30 Feb 7.00 - 6.50 -  
                   
  02/15 CPI MoM 05:30 Jan 0.30% - 0.30% -  
                   
  02/15 CPI YoY 05:30 Jan 2.40% - 2.10% -  
                   
  02/15 Retail Sales Advance MoM 05:30 Jan 0.10% - 0.60% -  
                   
  02/15 Industrial Production MoM 06:15 Jan 0.00% - 0.80% -  
                   
  02/15 Capacity Utilization 06:15 Jan 75.40% - 75.50% -  
                   
  02/15 NAHB Housing Market Index 07:00 Feb 67.00 - 67.00 -  
                   
  02/15 Business Inventories 07:00 Dec 0.40% - 0.70% -  
                   
  02/15 Total Net TIC Flows 13:00 Dec - - $23.70 B -  
                   
  02/16 Housing Starts 05:30 Jan - - 1226K -  
                   
  02/16 Housing Starts MoM 05:30 Jan - - 11.30% -  
                   
  02/16 Building Permits 05:30 Jan - - 1210K 1228K  
                   
  02/16 Building Permits MoM 05:30 Jan - - -0.20% 1.30%  
                   
  02/16 Initial Jobless Claims 05:30 11 Feb - - - -  
                   
  02/16 Continuing Claims 05:30 4 Feb - - - -  
                   
  02/16 Philadelphia Fed Business Outlook 05:30 Feb - - 23.60 -  
                   
  02/16 Bloomberg Consumer Comfort 06:45 12 Feb - - - -  
                   
  02/17 Leading Index 07:00 Jan - - 0.50% -  
                   
 
 
 
 
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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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