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Market Commentary


 
Today's Coupons
 
  10-Year Notes   99-08.5 (-03.5)  
 
  FN 3.5% Coupon   99-25.5 (-01.5)  
 
  Support   2.950%  
 
  Resistance   2.797%  
 
 
 
 
Friday, March 23, 2018
 
 
Treasuries are lower than yesterday at the opening of today’s session. The yield on the UST 10-Year is currently at 2.836% after closing at 2.825% during the prior session.

Preliminary Durable Goods Orders for February came in today at 3.10%, above estimates of 1.60% and rising from previous mark of -3.50% revised. Meanwhile, preliminary Durable Goods Orders Ex Transportation for February came in at 1.20%, also above survey of 0.50% and rising from prior mark of -0.20% revised. Further, New Home Sales during February reached 618K, marginally below market estimates of 620K and down from prior mark of 622K revised; while month-over-month New Home Sales during February reflected a -0.60% change, falling short of the 4.60% estimated but improving from its previous mark of -4.70% revised.

Also today, several Federal Reserve Presidents have scheduled appearances, including: Atlanta’s Bostic, who will be speaking on the economic outlook in Knoxville; Minneapolis’ Kashkari, who will be appearing on Bloomberg from NY; Dallas’ Kaplan who will be addressing an audience in Austin; and Boston’s Rosengren, who will be a speaker at a forum tonight in Washington.

The curve has bear-steepened with the UST 10-Year yield up 1.1 bps from prior closing.

Have A Wonderful Weekend!
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  03/19 No Data - - - - - -  
                   
  03/20 No Data - - - - - -  
                   
  03/21 MBA Mortgage Applications 04:00 16 Mar - -1.10% 0.90% -  
                   
  03/21  Existing Home Sales 07:00 Feb 5.40m 5.54m 5.38m -  
                   
  03/21 Existing Home Sales MoM 07:00 Feb 0.40% 3.00% -3.20% -  
                   
  03/21 FOMC Rate Decision (Upper Bound) 11:00 21 Mar  1.75% 1.75% 1.50% -  
                   
  03/21 FOMC Rate Decision (Lower Bound) 11:00 21 Mar  1.50% 1.50% 1.25% -  
                   
  03/22 Initial Jobless Claims 05:30 17 Mar  225k 229k 226k -  
                   
  03/22 Continuing Claims 05:30 10 Mar  1870k 1828k 1879k 1885k  
                   
  03/22 FHFA House Price Index MoM 06:00 Jan 0.40% 0.80% 0.30% 0.40%  
                   
  03/22 Bloomberg Consumer Comfort 06:45 18 Mar - 56.80 56.20 -  
                   
  03/22 Markit US Manufacturing PMI 06:45 Mar P 55.50 55.70 55.30 -  
                   
  03/22 Markit US Services PMI 06:45 Mar P 56.00 54.10 55.90 -  
                   
  03/22 Markit US Composite PMI 06:45 Mar P - 54.30 55.80 -  
                   
  03/22 Leading Index 07:00 Feb 0.50% 0.60% 1.00% 0.80%  
                   
  03/22 Kansas City Fed Manf. Activity 08:00 Mar 17.00 17.00 17.00 -  
                   
  03/23 Durable Goods Orders 05:30 Feb P 1.60% 3.10% -3.60% -3.50%  
                   
  03/23 Durables Ex Transportation 05:30 Feb P 0.50% 1.20% -0.30% -0.20%  
                   
  03/23 New Home Sales 07:00 Feb 620k 618k 593k 622k  
                   
  03/23 New Home Sales MoM 07:00 Feb 4.60% -0.60% -7.80% -4.70%  
                   
 
 
 
 
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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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