Back to top

Market Commentary

Home
Market Commentary


 
Today's Coupons
 
  10-Year Notes   99-06 (-07.5)  
 
  FN 3.5% Coupon   102-21 (-04)  
 
  Support   2.461%  
 
  Resistance   2.312%  
 
 
 
 
Monday, February 27, 2017
 
 
The UST 10-Year yield is at 2.337% this morning after closing at 2.313% Friday.

U.S. Treasury yields opened higher this morning following Treasury Secretary Mnuchin speech this weekend where he indicated that the earliest we will see a personal tax reform would be in 6 months, however, he failed to provide details on corporate taxes and monetary policy, which have become a focal point for investors.

In economic news, The Department of Commerce released Durable Goods Orders, which rose 1.80% in January partly due to a 69.90% increase in orders for commercial aircraft. Durable Goods Ex Transportation fell by 0.20% vs. a 0.90% increase the previous month. The National Association of Realtors released Pending Home Sales which declined 2.80% MoM to 106.40, the lowest level since January 2016. Overall, Pending Home Sales YoY have increased 2.70%.

The curve has bear-steepened with the UST 10-Year 2.4 bps up from prior closing.

 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  02/27 Durable Goods Orders 05:30 Jan P 1.60% 1.80% -0.50% -0.80%  
                   
  02/27 Durables Ex Transportation 05:30 Jan P 0.50% -0.20% 0.50% 0.90%  
                   
  02/27 Pending Home Sales MoM 07:00 Jan 0.60% -2.80% 1.60% 0.80%  
                   
  02/27 Dallas Fed Manf. Activity 07:30 Feb 19.40 24.50 22.10 -  
                   
  02/28 GDP Annualized QoQ 05:30 4Q S 2.10% - 1.90% -  
                   
  02/28 Personal Consumption 05:30 4Q S 2.60% - 2.50% -  
                   
  02/28 GDP Price Index 05:30 4Q S 2.10% - 2.10% -  
                   
  02/28 Core PCE QoQ 05:30 4Q S 1.30% - 1.30% -  
                   
  02/28 Wholesale Inventories MoM 05:30 Jan P 0.50% - 1.00% -  
                   
  02/28 S&P CoreLogic CS 20-City MoM SA 06:00 Dec 0.70% - 0.88% -  
                   
  02/28 S&P CoreLogic CS 20-City YoY NSA 06:00 Dec 5.35% - 5.27% -  
                   
  02/28 Richmond Fed Manufact. Index 07:00 Feb - - 12.00 -  
                   
  03/01 MBA Mortgage Applications 04:00 24 Feb - - -2.00% -  
                   
  03/01 Personal Income 05:30 Jan 0.30% - 0.30% -  
                   
  03/01 Personal Spending 05:30 Jan 0.30% - 0.50% -  
                   
  03/01 PCE Deflator MoM 05:30 Jan 0.50% - 0.20% -  
                   
  03/01 PCE Deflator YoY 05:30 Jan 2.00% - 1.60% -  
                   
  03/01 PCE Core MoM 05:30 Jan 0.30% - 0.10% -  
                   
  03/01 PCE Core YoY 05:30 Jan 1.80% - 1.70% -  
                   
  03/01 Markit US Manufacturing PMI 06:45 Feb F - - 54.30 -  
                   
  03/01 ISM Manufacturing 07:00 Feb 55.80 - 56.00 -  
                   
  03/01 ISM Prices Paid 07:00 Feb 68.00 - 69.00 -  
                   
  03/01 Construction Spending MoM 07:00 Jan 0.70% - -0.20% -  
                   
  03/01 U.S. Federal Reserve Releases Beige Book 11:00 - - - - -  
                   
  03/02 Challenger Job Cuts YoY 04:30 Feb - - -38.80% -  
                   
  03/02 Initial Jobless Claims 05:30 25 Feb - - 244 K -  
                   
  03/02 Continuing Claims 05:30 18 Feb - - 2060 K -  
                   
  03/02 Bloomberg Consumer Comfort 06:45 26 Feb - - 48.00 -  
                   
  03/03 Markit US Services PMI 06:45 Feb F - - 53.90 -  
                   
  03/03 Markit US Composite PMI 06:45 Feb F - - 54.30 -  
                   
 
 
 
 
Helpful Links
  Visit Us Online   Submit Loan  
  Get Approved   Resolve Loan Conditions  
  Download Rate Sheet   Conventional Program Guidelines  
  Price & Lock   Government Program Guidelines  
 
 
   
 
  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  
 
©2017 Sun West Mortgage Company, Inc. All Rights Reserved