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Market Commentary


 
Today's Coupons
 
  10-Year Notes   99-09 (+12.5)  
 
  FN 3.5% Coupon   102-23 (+08)  
 
  Support   2.491%  
 
  Resistance   2.331%  
 
 
 
 
Friday, February 24, 2017
 
 
The UST 10-Year yield is at 2.332% this morning after closing at 2.373% yesterday.

U.S. Treasury yields are declining for a third consecutive day following Wednesday's release of the FOMC minutes in which officials agreed that fiscal policies remained uncertain.

In economic news, the Department of Commerce released data for New Home Sales in January showing an increase of 3.70% MoM to 555K from the previous decline of 7.00% in December. Home sales rose in 3 of the 4 regions with a 4.40% drop in the West. The University of Michigan Sentiment showed consumer confidence rising to 96.30 as the Current Conditions Index, a measure of perception of personal finances, rose to 111.50 from 111.20.

Later this morning, investors will focus on President Trump's speech where he will address the Conservative Political Action Conference (CPAC) on his conservative agenda regarding his approach to replacing and repealing ObamaCare, immigration, tax reform and other issues.

The curve has bull-flattened with the UST 10-Year 4.1 bps down from prior closing.

Have A Nice Weekend!

 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  02/20 No Data - - - - - -  
                   
  02/21 Markit US Manufacturing PMI 06:45 Feb P 55.40 54.30 55.00 -  
                   
  02/21 Markit US Services PMI 06:45 Feb P 55.80 53.90 55.60 -  
                   
  02/21 Markit US Composite PMI 06:45 Feb P - 54.30 55.80 -  
                   
  02/22 MBA Mortgage Applications 04:00 17 Feb - -2.00% -3.70% -  
                   
  02/22 Existing Home Sales 07:00 Jan 5.55 M 5.69 M 5.49 M 5.51 M  
                   
  02/22 Existing Home Sales MoM 07:00 Jan 1.10% 3.30% -2.80% -1.60%  
                   
  02/22 FOMC Meeting Minutes 11:00 1 Feb - - - -  
                   
  02/23 Chicago Fed Nat Activity Index 05:30 Jan 0.00 -0.05 0.14 0.18  
                   
  02/23 Initial Jobless Claims 05:30 18 Feb 240K 244K 239K 238K  
                   
  02/23 Continuing Claims 05:30 11 Feb 2068K 2060K 2076K 2077K  
                   
  02/23 FHFA House Price Index MoM 06:00 Dec 0.50% 0.40% 0.50% 0.70%  
                   
  02/23 Bloomberg Consumer Comfort 06:45 19 Feb - 48.00 48.10 -  
                   
  02/23 Kansas City Fed Manf. Activity 08:00 Feb 9.00 14.00 9.00 -  
                   
  02/24 New Home Sales 07:00 Jan 571K 555K 536K 535K  
                   
  02/24 New Home Sales MoM 07:00 Jan 6.40% 3.70% -10.40% -7.00%  
                   
  02/24 U. of Mich. Sentiment 07:00 Feb F 96.00 96.30 95.70 -  
                   
 
 
 
 
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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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