Back to top

Market Commentary

Home
Market Commentary


 
Today's Coupons
 
  10-Year Notes   100-22.5 (-12.5)  
 
  FN 3.5% Coupon   100-29 (-05.5)  
 
  Support   3.237%  
 
  Resistance   2.342%  
 
 
 
 
Friday, April 12, 2019
 
 
Treasury Yields Climb on Upbeat China Data, U.S. Bank Earnings
 
 
Market opened today’s session with treasuries selling-off across all maturities. The 10-Year treasury yield is currently at 2.544, increasing 4.6 bps from prior closing of 2.498.

Treasuries slumped overnight as China continues its economic recovery after reporting better-than-expected lending growth. Treasuries extended losses after bank earnings season kicked off with JPMorgan and Wells Fargo both beating estimates. U.S. Stock Futures rose amid the surge in risk-on sentiment, while the dollar weakened against most major currencies. Elsewhere, the battle to be America’s top energy company further intensified after Chevron Corp. agreed to buy Anadarko Petroleum Corp. for $33 billion. West Texas oil futures climbed and headed into a sixth consecutive weekly advance in its best streak since 2016.

Today’s economic calendar wraps up the week on a quiet note with only the Import and Export Price indices for the month of March, along with the preliminary reading of the University of Michigan Sentiment for the month of April. Import prices rose 0.60% following an upwardly revised 1.00% increase in February, while its YoY level remained unchanged versus a 0.80% decline prior. Export prices rose 0.70% following a similar revised gain prior, bringing its YoY level up 0.60% versus 0.30% prior. The preliminary reading of the Michigan Sentiment came in lower than expected at 96.90 versus 98.20 per consensus following a 98.40 reading prior. Next week’s central bank calendar includes a variety of speakers leading up to the latest release of the Fed’s Beige Book on Wednesday.

The curve has bear-steepened with the UST 10-Year yield up 4.6 bps from prior closing
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  04/08 Factory Orders 07:00 Feb -0.50% -0.50% 0.10% 0.00%  
                   
  04/08 Durable Goods Orders 07:00 Feb F -1.60% -1.60% -1.60% -  
                   
  04/08 Durables Ex Transportation 07:00 Feb F 0.10% -0.10% 0.10% -  
                   
  04/09 NFIB Small Business Optimism 03:00 Mar 102.00 101.80 101.70 -  
                   
  04/09 JOLTS Job Openings 07:00 Feb 7550 7087 7581 7625  
                   
  04/10 MBA Mortgage Applications 04:00 5 Apr - -5.60% 18.60% -  
                   
  04/10 CPI MoM 05:30 Mar 0.40% 0.40% 0.20% -  
                   
  04/10 CPI YoY 05:30 Mar 1.80% 1.90% 1.50% -  
                   
  04/10 FOMC Meeting Minutes 11:00 20 Mar - - - -  
                   
  04/10 Monthly Budget Statement 11:00 Mar -$181.00b -$146.90b -$208.70b -  
                   
  04/11 PPI Final Demand MoM 05:30 Mar 0.30% 0.60% 0.10% -  
                   
  04/11 PPI Final Demand YoY 05:30 Mar 1.90% 2.20% 1.90% -  
                   
  04/11 Initial Jobless Claims 05:30 6 Apr 210k 196k 202k 204k  
                   
  04/11 Continuing Claims 05:30 30 Mar 1735k 1713k 1717k 1726k  
                   
  04/11 Bloomberg Consumer Comfort 06:45 7 Apr - 59.80 58.90 -  
                   
  04/12 Import Price Index MoM 05:30 Mar 0.40% 0.60% 0.60% 1.00%  
                   
  04/12 Import Price Index YoY 05:30 Mar -0.60% 0.00% -1.30% -0.80%  
                   
  04/12 Export Price Index MoM 05:30 Mar 0.20% 0.70% 0.60% 0.70%  
                   
  04/12 Export Price Index YoY 05:30 Mar - 0.60% 0.30% -  
                   
  04/12 U. of Mich. Sentiment 07:00 Apr P 98.20 96.90 98.40 -  
                   
 
 
 
 
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  
 
©2019 Sun West Mortgage Company, Inc. All Rights Reserved