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Market Commentary

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Market Commentary


 
Today's Coupons
 
  10-Year Notes   98-19 (-01.5) 1.781%  
 
  FN 3.5% Coupon   104-25 (00)  
 
  Support   2.050%  
 
  Resistance   1.700%  
 
 
 
 
Today's Blurb Wednesday, April 13, 2016
 
 
             MBA Mortgage Applications rose 10.00% last week following a 2.70% advance the week prior (16.50% YoY). Purchases rose 8.40% vs. -2.40% prior (+23.60% YoY), Refinancing rose 11.30% vs. 6.80% prior (+11.20% YoY), and the average interest rate for a 30-Year Conventional Conforming loan declined from 3.860% to 3.820% (3.870% a year ago). Retail Sales disappointed market expectations for a 0.10% advance in March, posting a 0.30% decline coupled with a slight upward revision in February from -0.10% to flat. Sales of autos fell 2.10% in March, and sales at gas stations rose 0.90%. Excluding Autos and Gas, Retail Sales rose for the third consecutive month, up 0.10% vs. +0.60% prior. The Producer Price Index fell 0.10% in March, for the first monthly decline since October 2015. Excluding food and energy, PPI fell 0.10% in March (consensus +0.10%). Year-over-year headline PPI is down 0.10% (consensus +0.30%), and the PPI excluding food and energy is up 1.00% (consensus +1.30%) vs. +1.20% prior. Treasuries rallied this morning following the disappointing Retail Sales and Inflation data, and the curve has flattened with 2s10s down 1.2 bps.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  04/11 No Data - - - - - -  
                   
  04/12 Import Price Index MoM 05:30 Mar 1.00% 0.20% -0.30% -0.40%  
                   
  04/12 Import Price Index YoY 05:30 Mar -4.80% -6.20% -6.10% -6.50%  
                   
  04/12 Monthly Budget Statement 11:00 Mar -$104.00 B - -$52.90 B -  
                   
  04/13 MBA Mortgage Applications 04:00 8 Apr  - 10.00% 2.70% -  
                   
  04/13 Retail Sales Advance MoM 05:30 Mar 0.10% -0.30% -0.10% 0.00%  
                   
  04/13 PPI Final Demand MoM 05:30 Mar 0.20% -0.10% -0.20% -  
                   
  04/13 PPI Final Demand YoY 05:30 Mar 0.30% -0.10% 0.00% -  
                   
  04/13 Business Inventories 07:00 Feb -0.10% -0.10% 0.10% -0.10%  
                   
  04/13 U.S. Federal Reserve Releases Beige Book 11:00 -  - -   -  -  
                   
  04/14 Initial Jobless Claims 05:30 9 Apr 270K - 267K -  
                   
  04/14 Continuing Claims 05:30 2 Apr 2183K - 2191K -  
                   
  04/14 CPI MoM 05:30 Mar 0.20% - -0.20% -  
                   
  04/14 CPI YoY 05:30 Mar 1.10% -   1.00% -  
                   
  04/14 Real Avg Weekly Earnings YoY 05:30 Mar - -   0.60% -  
                   
  04/14 Bloomberg Consumer Comfort 06:45 10 Apr - - - -  
                   
  04/15 Empire Manufacturing 05:30 Apr - - 0.62 -  
                   
  04/15 Industrial Production MoM 06:15 Mar - - -0.50% -  
                   
  04/15 Capacity Utilization 06:15 Mar - - 76.70% -  
                   
  04/15 U. of Mich. Sentiment 07:00 Apr P - - - -  
                   
 
 
 
 
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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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