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Market Commentary


 
Today's Coupons
 
  10-Year Notes   98-23.5 (-06.5)  
 
  FN 3.5% Coupon   99-22 (-03.5)  
 
  Support   2.910%  
 
  Resistance   2.522%  
 
 
 
 
Tuesday, February 20, 2018
 
 
Treasuries are lower from Friday at the opening of today’s session. The yield on the UST 10-Year is currently at 2.892% after closing at 2.876% during the prior session.

The U.S. Treasury Department is scheduled to issue $151 Billion of short-term notes and $28 Billion of 2-Year notes this week as inflation fears among traders have sent the 10-Year note close to a milestone 3.00% yield. The 3.00% mark has not been reached since December 2013 and may have the undesired consequence of elevating corporate financing costs on the short-term, among others.

The economic calendar for this week starts tomorrow with Mortgage Applications, Markit Manufacturing & Services PMI, Home Sales and the FOMC Minutes for the January 31 meeting. It concludes on Thursday with Initial & Continuing Jobless Claims, Leading Index, Kansas City Fed Manufacturing Index and the Bloomberg Comfort Index.

The curve has bear-flattened with the UST 10-Year yield up 1.6 bps from prior closing.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  02/19 No Data - - - - - -  
                   
  02/20 No Data - - - - - -  
                   
  02/21 MBA Mortgage Applications 04:00 16 Feb - - -4.10% -  
                   
  02/21 Markit US Manufacturing PMI 06:45 Feb P 55.50 - 55.50 -  
                   
  02/21 Markit US Services PMI 06:45 Feb P 53.70 - 53.30 -  
                   
  02/21 Markit US Composite PMI 06:45 Feb P - - 53.80 -  
                   
  02/21 Existing Home Sales 07:00 Jan 5.60m - 5.57m -  
                   
  02/21 Existing Home Sales MoM 07:00 Jan 0.50% - -3.60% -  
                   
  02/21 FOMC Meeting Minutes 11:00 31 Jan - - - -  
                   
  02/22 Initial Jobless Claims 05:30 17 Feb 230k - 230k -  
                   
  02/22 Continuing Claims 05:30 10 Feb 1935k - 1942k -  
                   
  02/22 Bloomberg Consumer Comfort 06:45 18 Feb - - 57.00 -  
                   
  02/22 Leading Index 07:00 Jan 0.70% - 0.60% -  
                   
  02/22 Kansas City Fed Manf. Activity 08:00 Feb 18.00 - 16.00 -  
                   
  02/23 No Data - - - - - -  
                   
 
 
 
 
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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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