Back to top

Market Commentary

Home
Market Commentary


 
Today's Coupons
 
  10-Year Notes   98-31 (+03)  
 
  FN 3.5% Coupon   102-10 (+01)  
 
  Support   2.511%  
 
  Resistance   2.346%  
 
 
 
 
Tuesday, March 28, 2017
 
 
The UST 10-Year yield is at 2.376% this morning after closing at 2.379% yesterday.

This morning, U.S. Treasuries are rallying across the curve for the seventh consecutive day. Yields have been ebbing lower since March 17th, the day after the FOMC raised interest rates by 0.250%.

The U.S. Census Bureau released the following economic indicators for February: Advance International Trade Goods Deficit reported an overall decline of $4.10 Billion to -$64.80 Billion as exports and imports decreased $0.10 Billion and $4.20 Billion respectively. Wholesale Inventories increased 0.40% to $594.10 Billion from the previously revised $591.90 Billion. Retail Inventories also increased 0.40% to $616.10 Billion from the revised $613.70 Billion in January.

The S&P Case-Shiller data reported that residential home prices in 20 U.S. cities rose for the eight consecutive month by 0.86%. Year-over-year, prices rose by 5.73%, the fastest pace since July 2014. The cities with the largest price gains were Seattle, Portland and Denver.

The Conference Board released its Consumer Confidence Index for March indicating a sharp increase to 125.60, the highest level seen since December 2000. Leading this surge was the optimistic outlook on business conditions, jobs and personal income prospects. The Richmond Fed Manufacturing Index also reported an increase in activity from 17.00 to 22.00, as shipments and new orders rose in the month of March.

The curve has bull-flattened with the UST 10-Year 0.3 bp down from prior closing.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  03/27 Dallas Fed Manf. Activity 07:30 Mar 22.00 16.90 24.50 -  
                   
  03/28 Wholesale Inventories MoM 05:30 Feb P 0.20% 0.40% -0.20% -0.30%  
                   
  03/28 S&P CoreLogic CS 20-City MoM SA 06:00 Jan 0.70% 0.86% 0.93% -  
                   
  03/28 S&P CoreLogic CS 20-City YoY NSA 06:00 Jan 5.60% 5.73% 5.58% 5.47%  
                   
  03/28 Richmond Fed Manufact. Index 07:00 Mar 15.00 22.00 17.00 -  
                   
  03/29 MBA Mortgage Applications 04:00 24 Mar - - -2.70% -  
                   
  03/29 Pending Home Sales MoM 07:00 Feb 2.50% - -2.80% -  
                   
  03/29 Pending Home Sales NSA YoY 07:00 Feb - - 2.70% -  
                   
  03/30 GDP Annualized QoQ 05:30 4Q T 2.00% - 1.90% -  
                   
  03/30 Personal Consumption 05:30 4Q T 3.00% - 3.00% -  
                   
  03/30 GDP Price Index 05:30 4Q T 2.00% - 2.00% -  
                   
  03/30 Core PCE QoQ 05:30 4Q T 1.20% - 1.20% -  
                   
  03/30 Initial Jobless Claims 05:30 25 Mar 245 K - 261 K -  
                   
  03/30 Continuing Claims 05:30 18 Mar 2033 K - 1990 K -  
                   
  03/30 Bloomberg Consumer Comfort 06:45 26 Mar - - 51.30 -  
                   
  03/31 Personal Income 05:30 Feb 0.40% - 0.40% -  
                   
  03/31 Personal Spending 05:30 Feb 0.20% - 0.20% -  
                   
  03/31 PCE Deflator MoM 05:30 Feb 0.10% - 0.40% -  
                   
  03/31 PCE Deflator YoY 05:30 Feb 2.10% - 1.90% -  
                   
  03/31 PCE Core MoM 05:30 Feb 0.20% - 0.30% -  
                   
  03/31 PCE Core YoY 05:30 Feb 1.70% - 1.70% -  
                   
  03/31 U. of Mich. Sentiment 07:00 Mar F 97.60 - 97.60 -  
                   
 
 
 
 
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