Back to top

Market Commentary

Home
Market Commentary


 
Today's Coupons
 
  10-Year Notes   97-02.5 (+06.5)  
 
  FN 3.5% Coupon   101-03.5 (+07)  
 
  Support   2.620%  
 
  Resistance   2.453%  
 
 
 
 
Friday, March 10, 2017
 
 
The UST 10-Year yield is at 2.592% this morning after closing at 2.609% yesterday.

U.S. Treasuries opened nearly unchanged ahead of the much-anticipated non-farm payroll numbers and remained steady after a stronger than expected release this morning. The Department of Labor reported a total gain of 235K new jobs for the month of February. Hiring in construction had the largest impact, with help of unseasonably warm weather, this sector added 58K jobs for the month. Private education services, manufacturing and health care followed with an addition of 29K, 28K and 27K new jobs respectively. The retail sector suffered the largest drop with 26K jobs lost in the month of February.

Average hourly earnings for all employees on private non-farm payrolls grew at nearly the same pace this month with a 6 cent (0.20%) gain to $26.09 average p/h after a 5 cent gain the previous month. Annually, average hourly earnings have risen 71 cents or 2.80%. The average employee work hours remained constant at 34.40 weekly.

February’s unemployment rate remained nearly unchanged at 4.70% vs. 4.80% in January and 0.20% down from a year ago. The labor force participation rate was also little changed, at 63.00%, up 0.10% from last month.

The curve has bull-flattened with the UST 10-Year 1.7 bps down from prior closing.

Have A Wonderful Weekend!

 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  03/06 Factory Orders 07:00 Jan 1.00% 1.20% 1.30% -  
                   
  03/06 Durable Goods Orders 07:00 Jan F 1.00% 2.00% 1.80% -  
                   
  03/06 Durables Ex Transportation 07:00 Jan F 0.10% 0.00% -0.20% -  
                   
  03/07 Trade Balance 05:30 Jan -$48.50 B -$48.50 B -$44.30 B -  
                   
  03/08 MBA Mortgage Applications 04:00 3 Mar - 3.30% 5.80% -  
                   
  03/08 ADP Employment Change 05:15 Feb 187 K 298 K 246 K 261 K  
                   
  03/08 Nonfarm Productivity 05:30 4Q F 1.50% 1.30% 1.30% -  
                   
  03/08 Wholesale Inventories MoM 07:00 Jan F -0.10% -0.20% -0.10% -  
                   
  03/08 Wholesale Trade Sales MoM 07:00 Jan 0.50% -0.10% 2.60% 2.40%  
                   
  03/09 Challenger Job Cuts YoY 04:30 Feb - -40.00% -38.80% -  
                   
  03/09 Import Price Index MoM 05:30 Feb 0.10% 0.20% 0.40% 0.60%  
                   
  03/09 Import Price Index YoY 05:30 Feb 4.40% 4.60% 3.70% 3.80%  
                   
  03/09 Initial Jobless Claims 05:30 4 Mar 238 K 243 K 223 K -  
                   
  03/09 Continuing Claims 05:30 25 Feb 2062 K 2058 K 2066 K 2064 K  
                   
  03/09 Bloomberg Consumer Comfort 06:45 5 Mar - 50.60 49.80 -  
                   
  03/10 Change in Nonfarm Payrolls 05:30 Feb 200 K 235 K 227 K 238 K  
                   
  03/10 Unemployment Rate 05:30 Feb 4.70% 4.70% 4.80% -  
                   
  03/10 Average Hourly Earnings MoM 05:30 Feb 0.30% 0.20% 0.10% 0.20%  
                   
  03/10 Average Hourly Earnings YoY 05:30 Feb 2.80% 2.80% 2.50% 2.60%  
                   
  03/10 Labor Force Participation Rate 05:30 Feb - 63.00% 62.90% -  
                   
  03/10 Underemployment Rate 05:30 Feb - 9.20% 9.40% -  
                   
 
 
 
 
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  
 
©2017 Sun West Mortgage Company, Inc. All Rights Reserved