Back to top

Market Commentary

Home
Market Commentary


 
Today's Coupons
 
  10-Year Notes   100-02.5 (-04.5)  
 
  FN 3.5% Coupon   100-18 (-01)  
 
  Support   3.237%  
 
  Resistance   2.598%  
 
 
 
 
Wednesday, March 13, 2019
 
 
Treasury Yields Climb after Solid Economic Data
 
 
Market opened today’s session with treasuries slightly inching lower across all maturities. 10-Year treasury yield is at 2.6141, 1.26 bps increased from prior closing of 2.6015.

Even after the US regulators reiterated their support for Boeing’s 737 Max, the European Union issued a blanket ban on the aircraft, joining Australia, Singapore, India, China, UK, and others. Norwegian Air will seek compensation from Boeing for lost revenue and extra costs due to grounding. Several airlines are now reconsidering orders for Boeing altogether, putting more pressure on the world’s biggest planemaker and further isolate the Federal Aviation Administration which assured the aircraft’s airworthiness even after the two crashes. Boeing’s market value has shrunk by more than $25 billion. In overseas, Brexit remained uncertain with just 16 days left until the deadline. Prime Minister May’s deal was rejected yesterday and Members of Parliament will vote today on whether the UK should leave the EU without a deal. Stocks advanced and WTI crude continued its rally this morning.

MBA Mortgage Application rose 2.30% last week after falling 2.50% in prior week. Purchases were up 4.30% and refinances were decreased 0.20% after falling 2.60% and 2.00% in prior week, respectively. Both headline and core PPI Final Demand in February rose 0.10% vs. consensuses of 0.20% increase. Durable Goods Orders also came in higher than consensus of -0.40% at 0.40% which was, however, a decrease from revised prior of 1.30%. Lastly, Construction Spending in January climbed 1.30% from -0.80% revised prior vs. 0.50% consensus. The US Treasury is scheduled to auction off $16 billion of 30-Year bonds at 10:00 AM (PT) today.

The curve has bear-steepened with UST 10-Year yield up 1.26 bps.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  03/11 Retail Sales Advance MoM 05:30 Jan 0.00% 0.20% -1.20% -1.60%  
                   
  03/11 Business Inventories 07:00 Dec 0.60% 0.60% -0.10% 0.00%  
                   
  03/12 NFIB Small Business Optimism 03:00 Feb 102.50 101.70 101.20 -  
                   
  03/12 CPI MoM 05:30 Feb 0.20% 0.20% 0.00% -  
                   
  03/12 CPI YoY 05:30 Feb 1.60% 1.50% 1.60% -  
                   
  03/13 MBA Mortgage Applications 04:00 8 Mar - 2.30% -2.50% -  
                   
  03/13 PPI Final Demand MoM 05:30 Feb 0.20% 0.10% -0.10% -  
                   
  03/13 PPI Final Demand YoY 05:30 Feb 1.90% 1.90% 2.00% -  
                   
  03/13 Durable Goods Orders 05:30 Jan P -0.40% 0.40% 1.20% 1.30%  
                   
  03/13 Durables Ex Transportation 05:30 Jan P 0.10% -0.10% 0.10% 0.30%  
                   
  03/14 Import Price Index MoM 05:30 Feb 0.30% - -0.50% -  
                   
  03/14 Import Price Index YoY 05:30 Feb -1.50% - -1.70% -  
                   
  03/14 Export Price Index MoM 05:30 Feb 0.10% - -0.60% -  
                   
  03/14 Export Price Index YoY 05:30 Feb - - -0.20% -  
                   
  03/14 Initial Jobless Claims 05:30 9 Mar 225k - 223k -  
                   
  03/14 Continuing Claims 05:30 2 Mar 1763k - 1755k -  
                   
  03/14 Bloomberg Consumer Comfort 06:45 10 Mar - - 62.10 -  
                   
  03/15 Empire Manufacturing 05:30 Mar 10.00 - 8.80 -  
                   
  03/15 Industrial Production MoM 06:15 Feb 0.40% - -0.60% -  
                   
  03/15 Capacity Utilization 06:15 Feb 78.50% - 78.20% -  
                   
  03/15 JOLTS Job Openings 07:00 Jan 7225 - 7335 -  
                   
  03/15 U. of Mich. Sentiment 07:00 Mar P 95.60 - 93.80 -  
                   
 
 
 
 
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