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Market Commentary


 
Today's Coupons
 
  10-Year Notes   98-09.5 (-21.5) 1.813%  
 
  FN 3.5% Coupon   104-19 (-06)  
 
  Support   2.160%  
 
  Resistance   1.720%  
 
 
 
 
Today's Blurb Tuesday, March 1, 2016
 
 
          Markit US Manufacturing PMI posted just above market expectations at 51.30 in February (consensus 51.20) vs. 51.00 in the prior estimate. ISM Manufacturing rose to 49.50 from 48.20 prior, and ISM Prices Paid rose to 38.50 from 33.50 prior. Construction Spending advanced 1.50% in January (consensus 0.30%) with an upward revision in December from 0.10% to 0.60%. This is the largest monthly advance in Construction Spending since May of last year. Treasuries have moved back into negative territory this morning following the hotter than expected Construction Spending and ISM reports, and the curve has steepened with 2s10s up 3.4 bps.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  02/29 ISM Milwaukee 06:00 Feb  50.00   55.22  50.36 -  
                   
  02/29 Dallas Fed Manf. Activity 07:30 Feb  -30.00   -31.80 -34.60 -  
                   
  03/01 Markit US Manufacturing PMI 06:45 Feb F 51.20   51.30   51.00 -  
                   
  03/01 ISM Manufacturing 07:00 Feb 48.50   49.50 48.20  -  
                   
  03/01 Construction Spending MoM 07:00 Jan  0.30%      1.50%   0.10% 0.60%  
                   
  03/02 MBA Mortgage Applications 04:00 26 Feb - -   -4.30% -  
                   
  03/02 ADP Employment Change 05:15 Feb 185K -  205K -  
                   
  03/02 ISM New York 06:45 Feb  - -  54.60 -  
                   
  03/02 U.S. Federal Reserve Releases Beige Book 11:00 - - - - -  
                   
  03/03 Challenger Job Cuts YoY 04:30 Feb   - -   41.60% -  
                   
  03/03 Nonfarm Productivity 05:30 4Q F  -3.00% - -3.00% -  
                   
  03/03 Initial Jobless Claims 05:30 27 Feb   270K  - 272K -  
                   
  03/03 Continuing Claims 05:30 20 Feb   2250K - 2253K -  
                   
  03/03 Markit US Services PMI 06:45 Feb F   50.00  - 49.80 -  
                   
  03/03 Markit US Composite PMI 06:45 Feb F  -  -  50.10 -  
                   
  03/03 Bloomberg Consumer Comfort 06:45 28 Feb  - -  44.20 -  
                   
  03/03 Durable Goods Orders 07:00 Jan F  - -    4.90% -  
                   
  03/03 Durables Ex Transportation 07:00 Jan F  - -   1.80% -  
                   
  03/04 Trade Balance 05:30 Jan -$43.40 B -   -$43.36 B -  
                   
  03/04 Change in Nonfarm Payrolls 05:30 Feb 193K -   151K -  
                   
  03/04 Unemployment Rate 05:30 Feb  4.90% -    4.90% -  
                   
  03/04 Average Hourly Earnings MoM 05:30 Feb  0.20% -    0.50% -  
                   
  03/04 Average Hourly Earnings YoY 05:30 Feb  2.60%  -   2.50% -  
                   
  03/04 Underemployment Rate 05:30 Feb   -  -  9.90% -  
                   
 
 
 
 
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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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