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Market Commentary

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Market Commentary


 
Today's Coupons
 
  10-Year Notes   101-01.5 (+04) 1.883%  
 
  FN 3.5% Coupon   105-28 (-02)  
 
  Support   2.400%  
 
  Resistance   1.620%  
 
 
 
 
Today's Blurb Thursday, April 16, 2015
 
 
         Housing Starts rebounded in March, up +2.0% (consensus 15.9%) and February was revised up from -17.0% to -15.3%. While Housing Starts have begun to reverse monthly losses, today‚Äôs reading was significantly lower than market expectations. The annual rate for Starts hit 926K (consensus 1040K) with February revised up from 897K to 908K. Building Permits fell -5.7% (consensus -1.9%) with the prior month revised up from 3.0% to 4.0%. Permits for Single Family Homes rose +2.1% in March. Jobless claims rose to the highest level in six weeks, up +12K to 294K (consensus 280K) vs. a revised 282K prior. The four-week average for initial claims rose +250 to 282,750. Although Initial Claims level is high relative to the past month and a half it is still the sixth consecutive week below 300K, which may signal that the labor market continues to strengthen. Treasuries are higher this morning following the lower than starts and higher claims data and the curve has bear flattened with 2s10s down -0.4 bps.
 
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  04/13 No Data - - - - - -  
                   
  04/14 Retail Sales Advance MoM 05:30 Mar 1.10% 0.90% -0.60% -0.50%  
                   
  04/14 PPI Final Demand MoM 05:30 Mar 0.20% 0.20% -0.50% -  
                   
  04/14 PPI Final Demand YoY 05:30 Mar -0.90% -0.80% -0.60% -  
                   
  04/15 MBA Mortgage Applications 04:00 Apr 10 - -2.30% 0.40% -  
                   
  04/15 Empire Manufacturing 05:30 Apr 7.17 -1.19 6.90 -  
                   
  04/15 Industrial Production MoM 06:15 Mar -0.30% -0.60% 0.10% -  
                   
  04/16 Housing Starts 05:30 Mar 1040K 926K 897K 908K  
                   
  04/16 Housing Starts MoM 05:30 Mar 15.90% 2.00% -17.00% -15.30%  
                   
  04/16 Initial Jobless Claims 05:30 Apr 11 280K 294K 281K 282K  
                   
  04/16 Continuing Claims 05:30 Apr 4 2323K 2268K 2304K 2308K  
                   
  04/17 CPI MoM 05:30 Mar 0.30% - 0.20% -  
                   
  04/17 CPI YoY 05:30 Mar 0.00% - 0.00% -  
                   
  04/17 Leading Indicators 07:00 Mar 0.30% - 0.20% -  
                   
 
 
 
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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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