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Market Commentary


 
Today's Coupons
 
  10-Year Notes   97-17 (+04) 1.899%  
 
  FN 3.5% Coupon   104-15 (+03.5)  
 
  Support   2.140%  
 
  Resistance   1.720%  
 
 
 
 
Today's Blurb Thursday, March 17, 2016
 
 
           Initial Jobless Claims rose 7K last week following a downward revision in the week prior from 259K to 258K. This is the 54th consecutive week of claims below 300K. Continuing Claims rose to 2235K from an upwardly revised 2227K prior. Yesterday's FOMC statement was more dovish than anticipated with a drop in the dot plot and no change to the overnight lending rate. The committee lowered their inflation expectations to imply only two rate hikes this year, as opposed to their prior estimate of four; this assumes the rate hikes are done in 25 bps increments. The committee cited global growth concerns, low inflation expectations due to declines in energy prices, and a strong dollar in the statement release to support their case for maintaining current rate levels. Treasuries are continuing their upward trajectory today fueled by the dovish policy statement yesterday and dots drop. The curve has flattened with 2s10s down 2.8 bps.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  03/14 No Data - -  -   -  - -  
                   
  03/15 Retail Sales Advance MoM 05:30 Feb   -0.20%   -0.10%   0.20%   -0.40%  
                   
  03/15 PPI Final Demand MoM 05:30 Feb   -0.20%   -0.20%   0.10% -  
                   
  03/15 PPI Final Demand YoY 05:30 Feb   0.10%     0.00%  -0.20% -  
                   
  03/15 Empire Manufacturing 05:30 Mar -10.50 0.62 -16.64 -  
                   
  03/15 NAHB Housing Market Index 07:00 Mar 59.00 -   58.00 -  
                   
  03/15 Business Inventories 07:00 Jan   0.00%      0.10%   0.10% 0.00%  
                   
  03/16 MBA Mortgage Applications 04:00 11 Mar  -   -3.30%   0.20% -  
                   
  03/16 Housing Starts 05:30 Feb  1150K  1178K  1099K 1120K  
                   
  03/16 Housing Starts MoM 05:30 Feb   4.60%    5.20%  -3.80% -3.40%  
                   
  03/16 Building Permits 05:30 Feb 1200K 1167K 1202K 1204K  
                   
  03/16 Building Permits MoM 05:30 Feb -0.20% -3.10%   -0.20%   0.00%  
                   
  03/16 CPI MoM 05:30 Feb -0.20% -0.20%    0.00% -  
                   
  03/16 CPI YoY 05:30 Feb   0.90%   1.00%    1.40% -  
                   
  03/16 Industrial Production MoM 06:15 Feb   -0.30%  -0.50%     0.90% 0.80%  
                   
  03/16 Capacity Utilization 06:15 Feb     76.90%    76.70%     77.10% -  
                   
  03/17 Philadelphia Fed Business Outlook 05:30 Mar -1.50 12.40 -2.80 -  
                   
  03/17 Initial Jobless Claims 05:30 12 Mar  268K 265K 259K 258K  
                   
  03/17 Continuing Claims 05:30 5 Mar  2235K 2235K 2225K 2227K  
                   
  03/17 Bloomberg Consumer Comfort 06:45 13 Mar  - 44.30 43.80 -  
                   
  03/17 Leading Index 07:00 Feb    0.20%  0.10%   -0.20% -  
                   
  03/18 U. of Mich. Sentiment 07:00 Mar P  92.20 - 91.70 -  
                   
 
 
 
 
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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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