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Market Commentary


 
Today's Coupons
 
  10-Year Notes   99-23 (+05)  
 
  FN 3.5% Coupon   99-31.5 (+03)  
 
  Support   2.950%  
 
  Resistance   2.719%  
 
 
 
 
Wednesday, April 11, 2018
 
 
Treasuries are 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 2.802% during the prior session.

Month-over-month CPI dropped by -0.10% during March, versus survey of 0.00% and prior mark of 0.20%; while year-over-year CPI for March registered a 2.40% change, in line with market estimates and slightly above prior mark of 2.20%. Also in, month-over-month CPI Ex Food and Energy registered a 0.20% change during March, in line with both estimates for the period and prior mark; while year-over-year CPI Ex Food and Energy registered a 2.10% during March, in line with estimates and rising from prior mark of 1.80%.

MBA Mortgage Applications dropped by -1.90% during the week ended April 6 versus a -3.30% drop during the prior week. Further, year-over-year Average Weekly Earnings rose 0.90% during March versus prior print of 0.60%; while year-over-year Average Hourly Earnings rose 0.40% during March versus prior print of 0.30% revised.

Later today we will be receiving the Monthly Budget Statement for March and the minutes for the FOMC’s March 21 meeting. Tomorrow, Minneapolis Fed President Kashkari will participate in a panel in Minneapolis.

The curve has bull-flattened with the UST 10-Year yield down 2.8 bps from prior closing.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  04/09 No Data - - - - - -  
                   
  04/10 NFIB Small Business Optimism 03:00 Mar 107.00 104.70 107.60 -  
                   
  04/10 PPI Final Demand MoM 05:30 Mar 0.10% 0.30% 0.20% -  
                   
  04/10 PPI Final Demand YoY 05:30 Mar 2.90% 3.00% 2.80% -  
                   
  04/10 Wholesale Inventories MoM 07:00 Feb F 0.80% 1.00% 1.10% -  
                   
  04/10 Wholesale Trade Sales MoM 07:00 Feb 0.10% 1.00% -1.10% -1.50%  
                   
  04/11 MBA Mortgage Applications 04:00 6 Apr - -1.90% -3.30% -  
                   
  04/11 CPI MoM 05:30 Mar 0.00% -0.10% 0.20% -  
                   
  04/11 CPI YoY 05:30 Mar 2.40% 2.40% 2.20% -  
                   
  04/11 Monthly Budget Statement 11:00 Mar -$186.00b - -$215.20b -  
                   
  04/11 FOMC Meeting Minutes 11:00 21 Mar - - - -  
                   
  04/12 Import Price Index MoM 05:30 Mar 0.10% - 0.40% -  
                   
  04/12 Import Price Index YoY 05:30 Mar 3.80% - 3.50% -  
                   
  04/12 Export Price Index MoM 05:30 Mar 0.20% - 0.20% -  
                   
  04/12 Export Price Index YoY 05:30 Mar - - 3.30% -  
                   
  04/12 Initial Jobless Claims 05:30 7 Apr 230k - 242k -  
                   
  04/12 Continuing Claims 05:30 31 Mar 1843k - 1808k -  
                   
  04/12 Bloomberg Consumer Comfort 06:45 8 Apr - - 57.20 -  
                   
  04/13 JOLTS Job Openings 07:00 Feb 6065 - 6312 -  
                   
  04/13 U. of Mich. Sentiment 07:00 Apr P 100.40 - 101.40 -  
                   
 
 
 
 
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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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