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Market Commentary


 
Today's Coupons
 
  10-Year Notes   97-28 (+02)  
 
  FN 3.5% Coupon   101-21.5 (+0.5)  
 
  Support   2.628%  
 
  Resistance   2.482%  
 
 
 
 
Monday, March 20, 2017
 
 
The UST 10-Year yield is at 2.491% this morning after closing at 2.501% on Friday.

This morning, U.S. Treasuries opened slightly higher, edging yields down for the second consecutive day. The dollar fell for a fourth day with the index down 0.05% to 100.27. In commodities, WTI Crude Oil is down 55 cents (1.13%) to $48.23 per barrel.

Only one economic release this morning, the Chicago Fed National Activity Index, which provides an indication of the overall economic activity and related inflationary pressure, came in higher than expected at 0.34 in February vs. a -0.02 drop the previous month.

Later today, the Fed reinvestment operation will purchase $825 Million of Ginnie Mae II securities, primarily in the 3.50% coupon. In Fedspeak, Chicago Fed President Evans, one of the most dovish members of the FOMC, will give a speech on current economic conditions and monetary policy at the National Association for Business Economic in NY; investors will focus on his stance for the upcoming rate hike.

The curve has bull-flattened with the UST 10-Year 1 bp down from prior closing.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  03/20 Chicago Fed Nat Activity Index 05:30 Feb 0.03 0.34 -0.05 -0.02  
                   
  03/21 No Data - - - - - -  
                   
  03/22 MBA Mortgage Applications 04:00 17 Mar - - 3.10% -  
                   
  03/22 FHFA House Price Index MoM 06:00 Jan 0.40% - 0.40% -  
                   
  03/22 Existing Home Sales 07:00 Feb 5.55 M - 5.69 M -  
                   
  03/22 Existing Home Sales MoM 07:00 Feb -2.50% - 3.30% -  
                   
  03/23 Initial Jobless Claims 05:30 18 Mar 240 K - 241 K -  
                   
  03/23 Continuing Claims 05:30 11 Mar 2042 K - 2030 K -  
                   
  03/23 Bloomberg Consumer Comfort 06:45 19 Mar - - 51.00 -  
                   
  03/23 New Home Sales 07:00 Feb 565 K - 555 K -  
                   
  03/23 New Home Sales MoM 07:00 Feb 1.80% - 3.70% -  
                   
  03/23 Kansas City Fed Manf. Activity 08:00 Mar 14.00 - 14.00 -  
                   
  03/24 Durable Goods Orders 05:30 Feb P 1.30% - 2.00% -  
                   
  03/24 Durables Ex Transportation 05:30 Feb P 1.60% - 0.00% -  
                   
  03/24 Markit US Manufacturing PMI 06:45 Mar P 54.80 - 54.20 -  
                   
 
 
 
 
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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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