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Market Commentary

Market Commentary

Today's Coupons
  10-Year Notes   97-06 (-16.5) 1.938%  
  FN 3.5% Coupon   104-07.5 (-04)  
  Support   2.140%  
  Resistance   1.720%  
Today's Blurb Thursday, March 10, 2016
         Initial Jobless Claims fell more than anticipated during the week ended March 5th, with a minor downward revision to the prior week. Jobless Claims posted an 18K decline to 259K (consensus 275K) and the prior week was revised down from 278K to 277K. This is the 53rd consecutive week of claims under 300K. The four week moving average fell to 267,500 from 270,000. Continuing Claims fell 32K to 2225K (consensus 2250K) from an unrevised 2257K prior. Today ECB President Mario Draghi lowered interest rates abroad and unveiled a stimulus plan that lowers borrowing costs, expands asset purchases, and offers a borrowing subsidy to lenders. Treasuries are lower this morning as traders weigh the implications of today‚Äôs ECB rate cut/stimulus on future Fed decisions. The curve is steeper with 2s10s up 1.1 bps.
This Week's Events
  03/07 Labor Market Conditions Index C 07:00 Feb  1.00   -2.40  0.40 -0.80  
  03/08 NFIB Small Business Optimism 03:00 Feb 94.00  92.90   93.90 -  
  03/09 MBA Mortgage Applications 04:00 4 Mar  -   0.20%   -4.80% -  
  03/09 Wholesale Inventories MoM 07:00 Jan  -0.20%  0.30%  -0.10%   0.00%  
  03/09 Wholesale Trade Sales MoM 07:00 Jan  -0.30% -1.30%  -0.30% -0.60%  
  03/10 Initial Jobless Claims 05:30 5 Mar  275K 259K 278K 277K  
  03/10 Continuing Claims 05:30 27 Feb  2250K 2225K 2257K -  
  03/10 Bloomberg Consumer Comfort 06:45 6 Mar  - 43.80 43.60 -  
  03/10 Monthly Budget Statement 11:00 Feb  -$196.30 B - -$192.40 B -  
  03/11 Import Price Index MoM 05:30 Feb  -0.70% - -1.10% -  
  03/11 Import Price Index YoY 05:30 Feb  -6.50% - -6.20% -  
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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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