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Market Commentary


 
Today's Coupons
 
  10-Year Notes   97-0.5 (+09)  
 
  FN 3.5% Coupon   100-29.5 (+05.5)  
 
  Support   2.628%  
 
  Resistance   2.455%  
 
 
 
 
Tuesday, March 14, 2017
 
 
The UST 10-Year yield is at 2.594% this morning after closing at 2.627% yesterday.

U.S. Treasury yields opened lower this morning after peeking to a September 2014 high of 2.627% yesterday. This morning, the FOMC will commence part one of its 2-day meeting in which the FED is widely expected to raise interest rates by 0.25% at its conclusion tomorrow afternoon.

In economic releases, NFIB Small Business Optimism Index dropped in February for the first time in 5-months to 105.30 from 105.90 the previous month. The Department of Labor released the producer price index, indicating a 0.30% rise in February, largely due to an 1.60% increase in demand for electrical power. Excluding volatile food and energy, MoM PPI rose 0.30% for the 6th consecutive month and core PPI also rose by 0.30%. PPI Demand YoY rose 2.20%, the highest since March 2012. Excluding food and energy, PPI rose 1.50% annually.

The curve has bull-flattened with the UST 10-Year 3.3 bps down from prior closing.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  03/13 Labor Market Conditions Index Change 07:00 Feb 2.50 - 1.30 -  
                   
  03/14 NFIB Small Business Optimism 03:00 Feb 105.60 105.30 105.90 -  
                   
  03/14 PPI Final Demand MoM 05:30 Feb 0.10% 0.30% 0.60% -  
                   
  03/14 PPI Final Demand YoY 05:30 Feb 1.90% 2.20% 1.60% -  
                   
  03/15 MBA Mortgage Applications 04:00 10 Mar - - 3.30% -  
                   
  03/15 Empire Manufacturing 05:30 Mar 15.00 - 18.70 -  
                   
  03/15 CPI MoM 05:30 Feb 0.00% - 0.60% -  
                   
  03/15 CPI YoY 05:30 Feb 2.70% - 2.50% -  
                   
  03/15 Retail Sales Advance MoM 05:30 Feb 0.10% - 0.40% -  
                   
  03/15 NAHB Housing Market Index 07:00 Mar - - 65.00 -  
                   
  03/15 Business Inventories 07:00 Jan - - 0.40% -  
                   
  03/15 FOMC Rate Decision (Upper Bound) 11:00 15 Mar 0.75% - 0.75% -  
                   
  03/15 FOMC Rate Decision (Lower Bound) 11:00 15 Mar 0.50% - 0.50% -  
                   
  03/16 Housing Starts 05:30 Feb - - 1246 K -  
                   
  03/16 Housing Starts MoM 05:30 Feb - - -2.60% -  
                   
  03/16 Building Permits 05:30 Feb - - 1285 K -  
                   
  03/16 Building Permits MoM 05:30 Feb - - 4.60% -  
                   
  03/16 Initial Jobless Claims 05:30 11 Mar - - - -  
                   
  03/16 Continuing Claims 05:30 4 Mar - - - -  
                   
  03/16 Philadelphia Fed Business Outlook 05:30 Mar - - 43.30 -  
                   
  03/16 Bloomberg Consumer Comfort 06:45 12 Mar - - - -  
                   
  03/16 JOLTS Job Openings 07:00 Jan - - 5501 -  
                   
  03/17 Industrial Production MoM 06:15 Feb - - -0.30% -  
                   
  03/17 Capacity Utilization 06:15 Feb - - 75.30% -  
                   
  03/17 U. of Mich. Sentiment 07:00 Mar P - - - -  
                   
  03/17 Leading Index 07:00 Feb - - 0.60% -  
                   
 
 
 
 
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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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