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Market Commentary


 
Today's Coupons
 
  10-Year Notes   99-24 (+0.5)  
 
  FN 3.5% Coupon   100-03.5 (+02)  
 
  Support   2.950%  
 
  Resistance   2.719%  
 
 
 
 
Wednesday, April 04, 2018
 
 
Treasuries are marginally higher than yesterday at the opening of today’s session. The yield on the UST 10-Year is currently at 2.774% after closing at 2.776% during the prior session.

The economic calendar for today features MBA Mortgage Applications for the week ended on March 30 reflecting a -3.30% change versus a 4.80% change during the prior week. Also in today, ADP Employment Change for March reached 241K, exceeding estimates of 210K but down from prior mark of 246K revised. Further, forecast Markit US Services PMI for March came in at 54.00, slightly below estimated 54.20 and marginally down from prior mark of 54.10; while forecast Markit US Composite PMI for March came in at 54.20 versus prior mark of 54.30. Finally, forecast Durable Goods Orders for February reflected a 3.00% change versus a 3.10% during its prior period; while Factory Orders for March came in at 1.20%, below estimates of 1.70% but up from its prior mark of -1.30% revised.   

Today, St. Louis Fed President Bullard is scheduled to speak on monetary policy and the economy in Arkansas; while Cleveland Fed President Mester is scheduled to speak on diversity in economics in Ohio. 

The curve has bull-flattened with the UST 10-Year yield down 0.2 bp from prior closing.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  04/02 Markit US Manufacturing PMI 06:45 Mar F 55.70 55.60 55.70 -  
                   
  04/02 Construction Spending MoM 07:00 Feb 0.40% 0.10% 0.00% -  
                   
  04/02 ISM Manufacturing 07:00 Mar 59.60 59.30 60.80 -  
                   
  04/02 ISM Prices Paid 07:00 Mar 72.50 78.10 74.20 -  
                   
  04/03 No Data - - - - - -  
                   
  04/04 MBA Mortgage Applications 04:00 30 Mar - -3.30% 4.80% -  
                   
  04/04 ADP Employment Change 05:15 Mar 210k 241k 235k 246k  
                   
  04/04 Markit US Services PMI 06:45 Mar F 54.20 54.00 54.10 -  
                   
  04/04 Markit US Composite PMI 06:45 Mar F - 54.20 54.30 -  
                   
  04/04 Factory Orders 07:00 Feb 1.70% 1.20% -1.40% -1.30%  
                   
  04/04 Durable Goods Orders 07:00 Feb F - 3.00% 3.10% -  
                   
  04/04 Durables Ex Transportation 07:00 Feb F - 1.00% 1.20% -  
                   
  04/05 Challenger Job Cuts YoY 04:30 Mar - - -4.30% -  
                   
  04/05 Initial Jobless Claims 05:30 31 Mar 225k - 215k -  
                   
  04/05 Continuing Claims 05:30 24 Mar 1843k - 1871k -  
                   
  04/05 Trade Balance 05:30 Feb -$56.80b - -$56.60b -  
                   
  04/05 Bloomberg Consumer Comfort 06:45 1 Apr - - 56.80 -  
                   
  04/06 Change in Nonfarm Payrolls 05:30 Mar 185k - 313k -  
                   
  04/06 Unemployment Rate 05:30 Mar 4.00% - 4.10% -  
                   
  04/06 Average Hourly Earnings MoM 05:30 Mar 0.30% - 0.10% -  
                   
  04/06 Average Hourly Earnings YoY 05:30 Mar 2.70% - 2.60% -  
                   
  04/06 Labor Force Participation Rate 05:30 Mar - - 63.00% -  
                   
 
 
 
 
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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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