Back to top

Market Commentary

Home
Market Commentary


 
Today's Coupons
 
  10-Year Notes   97-18 (-08)  
 
  FN 3.5% Coupon   101-17 (-03.5)  
 
  Support   2.628%  
 
  Resistance   2.484%  
 
 
 
 
Thursday, March 16, 2017
 
 
The UST 10-Year yield is at 2.530% this morning after closing at 2.494% yesterday.

This morning, U.S. Treasuries are selling off across the curve as the market attempts to digest yesterday's fed funds rate hike as well as the reinforced indication for 2 additional rate hikes throughout 2017. The dollar index dropped for the second consecutive day, falling 0.10% to 100.44. In commodities, WTI Crude Oil prices continue to rebound from all-time lows to $48.96 per barrel.

In economic news, Housing Starts rose to a 4-month high of 1288K for the month of February after a revised 1251K hike in January. According to the U.S. Census Bureau & HUD, demand for single family dwellings rose 6.50% to a rate of 872K, the largest increase since October 2007. Building Permits declined 6.20% to 1213K in the month of February, however, overall permits were up 4.40% from February 2016's rate of 1162K.

The Department of Labor released Initial Jobless Claims for the week ended March 11th, indicating a drop of 2K to 241K, marking the 106-consecutive week of claims below 300K. Claims for those continuing to receive benefits fell to a 3-month low of 2030K for the week ended March 4th. Philadelphia Business Outlook Index declined 10.50 to 32.80, retreating from its highest level in 33 years. Consumer Comfort barometer rose to 51.00, a second highest reading since 2007 as economic expectations gauge increase to 54.00 from 50.00 the previous month.

The curve has bear-steepened with the UST 10-Year 3.6 bps up 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 - 3.10% 3.30% -  
                   
  03/15 Empire Manufacturing 05:30 Mar 15.00 16.40 18.70 -  
                   
  03/15 CPI MoM 05:30 Feb 0.00% 0.10% 0.60% -  
                   
  03/15 CPI YoY 05:30 Feb 2.70% 2.70% 2.50% -  
                   
  03/15 Retail Sales Advance MoM 05:30 Feb 0.10% 0.10% 0.40% 0.60%  
                   
  03/15 NAHB Housing Market Index 07:00 Mar 65.00 71.00 65.00 -  
                   
  03/15 Business Inventories 07:00 Jan 0.30% 0.30% 0.40% -  
                   
  03/15 FOMC Rate Decision (Upper Bound) 11:00 15 Mar 1.00% 1.00% 0.75% -  
                   
  03/15 FOMC Rate Decision (Lower Bound) 11:00 15 Mar 0.75% 0.75% 0.50% -  
                   
  03/16 Housing Starts 05:30 Feb 1264 K 1288 K 1246 K 1251 K  
                   
  03/16 Housing Starts MoM 05:30 Feb 1.40% 3.00% -2.60% -1.90%  
                   
  03/16 Building Permits 05:30 Feb 1268 K 1213 K 1285 K 1293 K  
                   
  03/16 Building Permits MoM 05:30 Feb -1.90% -6.20% 4.60% 5.30%  
                   
  03/16 Initial Jobless Claims 05:30 11 Mar 240 K 241 K 243 K -  
                   
  03/16 Continuing Claims 05:30 4 Mar 2050 K 2030 K 2058 K 2060 K  
                   
  03/16 Philadelphia Fed Business Outlook 05:30 Mar 30.00 32.80 43.30 -  
                   
  03/16 Bloomberg Consumer Comfort 06:45 12 Mar - 51.00 50.60 -  
                   
  03/16 JOLTS Job Openings 07:00 Jan 5556 5626 5501 5539  
                   
  03/17 Industrial Production MoM 06:15 Feb 0.20% - -0.30% -  
                   
  03/17 Capacity Utilization 06:15 Feb 75.50% - 75.30% -  
                   
  03/17 U. of Mich. Sentiment 07:00 Mar P 97.00 - 96.30 -  
                   
  03/17 Leading Index 07:00 Feb - - 0.60% -  
                   
 
 
 
 
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