Back to top

Market Commentary

Home
Market Commentary


 
Today's Coupons
 
  10-Year Notes   99-04 (+04.5)  
 
  FN 3.5% Coupon   99-26 (+01.5)  
 
  Support   2.950%  
 
  Resistance   2.608%  
 
 
 
 
Monday, March 05, 2018
 
 
Treasuries are higher than Friday at the opening of today’s session. The yield on the UST 10-Year is currently at 2.836% after closing at 2.865% during the prior session.

Today we received the forecast Markit Services PMI for February, which reflected a 55.90, matching both market survey and its previous period mark. Also in today, forecast Markit Composite PMI for February reached 55.80, marginally below its 55.90 for its prior period. Finally, the ISM Non-Manufacturing Composite for February registered a 59.50, above market survey of 59.00 but below its prior 59.90 mark.

The economic calendar for the week continues with Factory Orders and Durable Goods Orders tomorrow; Mortgage Applications, ADP Employment and Trade Balance on Wednesday; Initial and Continuing Claims on Thursday; and Unemployment and Labor Force Participation on Friday.

Further, Fed Vice Chair for Financial Supervision Randal Quarles speaks on foreign bank regulation today in Washington, while New York Fed President Dudley, Fed Governor Brainard, and Dallas Fed President Kaplan speak tomorrow at the U.S. Virgin Islands, New York City and Houston respectively. 

The curve has bull-flattened with the UST 10-Year yield down 2.9 bps from prior closing.

 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  03/05 Markit US Services PMI 06:45 Feb F 55.90 55.90 55.90 -  
                   
  03/05 Markit US Composite PMI 06:45 Feb F - 55.80 55.90 -  
                   
  03/06 Factory Orders 07:00 Jan -1.30% - 1.70% -  
                   
  03/06 Durable Goods Orders 07:00 Jan F -3.60% - -3.70% -  
                   
  03/06 Durables Ex Transportation 07:00 Jan F - - -0.30% -  
                   
  03/07 MBA Mortgage Applications 04:00 2 Mar - - 2.70% -  
                   
  03/07 ADP Employment Change 05:15 Feb 200k - 234k -  
                   
  03/07 Nonfarm Productivity 05:30 4Q F -0.10% - -0.10% -  
                   
  03/07 Trade Balance 05:30 Jan -$55.10b - -$53.10b -  
                   
  03/07 Consumer Credit 12:00 Jan $18.000b - $18.447b -  
                   
  03/08 Challenger Job Cuts YoY 04:30 Feb - - -2.80% -  
                   
  03/08 Initial Jobless Claims 05:30 3 Mar  220k - 210k -  
                   
  03/08 Continuing Claims 05:30 24 Feb 1922k - 1931k -  
                   
  03/08 Bloomberg Consumer Comfort 06:45 4 Mar - - 56.20 -  
                   
  03/09 Change in Nonfarm Payrolls 05:30 Feb 200k - 200k -  
                   
  03/09 Unemployment Rate 05:30 Feb 4.00% - 4.10% -  
                   
  03/09 Underemployment Rate 05:30 Feb - - 8.20% -  
                   
  03/09 Average Hourly Earning MoM 05:30 Feb 0.20% - 0.30% -  
                   
  03/09 Average Hourly Earning YoY 05:30 Feb 2.80% - 2.90% -  
                   
  03/09 Labor Force Participation Rate 05:30 Feb 62.70% - 62.70% -  
                   
  03/09 Wholesale Inventories MoM 07:00 Jan F 0.70% - 0.70% -  
                   
  03/09 Wholesale Trade Sales MoM 07:00 Jan - - 1.20% -  
                   
 
 
 
 
Helpful Links
  Visit Us Online   Submit Loan  
  Get Approved   SeeMyLoanStatusTM  
  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  
 
©2019 Sun West Mortgage Company, Inc. All Rights Reserved