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Market Commentary


 
Today's Coupons
 
  10-Year Notes   97-30 (-07.5) 1.853%  
 
  FN 3.5% Coupon   104-17 (-01)  
 
  Support   2.160%  
 
  Resistance   1.720%  
 
 
 
 
Today's Blurb Wednesday, March 2, 2016
 
 
            MBA Mortgage Applications fell 4.80% last week following a 4.30% drop prior (+18.10% YoY). Purchases slipped 0.60% vs. +2.20% prior (+26.90% YoY), Refinancing fell 7.20% vs. -7.70% prior (+12.50% YoY), and the average interest rate for a 30-Year Conventional Conforming loan fell 2 bps to 3.830% (3.960% a year ago). According to ADP, companies added a total of 214K jobs in February (consensus 190K), along with a downward revision in January from 205K to 193K; the average monthly advance for ADP in 2015 was 220K. Treasuries are hovering just below yesterday’s 2:00 PM (PT) close, and the curve has steepened with 2s10s up 1.2 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 -     -4.80%   -4.30% -  
                   
  03/02 ADP Employment Change 05:15 Feb 190K 214K  205K 193K  
                   
  03/02 ISM New York 06:45 Feb  - 53.60  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  -2.90% - -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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