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Market Commentary


 
Today's Coupons
 
  10-Year Notes   99-21 (+02.5)  
 
  FN 3.5% Coupon   102-22.5 (+01)  
 
  Support   2.391%  
 
  Resistance   2.280%  
 
 
 
 
Wednesday, April 12, 2017
 
 
Treasuries are slightly higher across the curve this morning with oil prices rising +0.50. The UST 10-Year yield is currently at 2.287% after closing at 2.297% prior.

MBA Mortgage Applications rose 1.50% in the week ending April 7th after falling 1.60% the previous week. Purchases activities increased 2.90%, while refinance activities remained unchanged after falling 4.20% in the week prior. March Import Prices declined 0.20% after an upwardly revised 0.40% increase in February. The downturn was mainly driven by lower fuel import prices; import prices ex-petroleum rose just 0.20% versus a 0.30% rise prior.

At 11:00 AM (PT), Treasury will auction $12 Billion in reopened 30-Year bonds, and the March monthly budget statement is expected to show a -$169 Billion deficit, after -$108 Billion in February. Thursday we will receive the March PPI Ex Food and Energy data, and Friday we will have the March Retail Sales and CPI inflation reports.

The curve has bull-flattened with the UST 10-Year down 1.0 bp from prior closing.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  04/10 Labor Market Conditions Index Change 07:00 Mar 0.80 0.40 1.30 1.50  
                   
  04/11 NFIB Small Business Optimism 03:00 Mar 104.70 104.70 105.30 -  
                   
  04/11 JOLTS Job Openings 07:00 Feb 5650 5743 5626 5625  
                   
  04/12 MBA Mortgage Applications 04:00 7 Apr - 1.50% -1.60% -  
                   
  04/12 Import Price Index MoM 05:30 Mar -0.20% -0.20% 0.20% 0.40%  
                   
  04/12 Import Price Index YoY 05:30 Mar 4.00% 4.20% 4.60% 4.80%  
                   
  04/13 PPI Final Demand MoM 05:30 Mar 0.00% - 0.30%    
                   
  04/13 PPI Final Demand YoY 05:30 Mar 2.40% - 2.20% -  
                   
  04/13 Initial Jobless Claims 05:30 8 Apr 245 K - 234 K -  
                   
  04/13 Continuing Claims 05:30 1 Apr 2024 K - 2028 K -  
                   
  04/13 Bloomberg Consumer Comfort 06:45 9 Apr - - 50.20 -  
                   
  04/13 U. of Mich. Sentiment 07:00 Apr P 96.50 - 96.90 -  
                   
  04/14 CPI MoM 05:30 Mar 0.00% - 0.10% -  
                   
  04/14 CPI YoY 05:30 Mar 2.60% - 2.70% -  
                   
  04/14 Retail Sales Advance MoM 05:30 Mar -0.10% - 0.10% -  
                   
  04/14 Business Inventories 07:00 Feb 0.30% - 0.30% -  
                   
 
 
 
 
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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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