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Market Commentary


 
Today's Coupons
 
  10-Year Notes   99-06.5 (-03.5)  
 
  FN 3.5% Coupon   99-23.5 (-03)  
 
  Support   2.950%  
 
  Resistance   2.719%  
 
 
 
 
Wednesday, April 18, 2018
 
 
Treasuries are lower than yesterday at the opening of today’s session. The yield on the UST 10-Year is currently at 2.841% after closing at 2.829% during the prior session.

Solid corporate earnings in Wall Street have extended the rally for risk assets and have impeded Treasuries to rebound from last week’s levels.

Released today, MBA Mortgage Applications rose 4.90% during the week ended on April 13, versus a -1.90% print during the previous week. Within the index components, purchases rose 6.10% versus a 3.50% increase for refinances, which fell 2.00% and 1.70% respectively during the prior week. Further, FHA purchases rose 4.70% compared to a rise of 2.00% the week before. Finally, the Federal Reserve is scheduled to release its Beige Book today at 11:00 AM (PT).

Featured Federal Reserve speakers for today include NY President Dudley, who will make remarks at a conference in New York and will later speak on economic outlook and monetary policy at Lehman College in The Bronx; and Fed Governor Quarles, who will speak at the Bretton Woods Annual Meeting in Washington. 

The curve has bear-flattened with the UST 10-Year yield up 1.2 bps from prior closing.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  04/16 Empire Manufacturing 05:30 Apr 18.40 15.80 22.50 -  
                   
  04/16 Retail Sales Advance MoM 05:30 Mar 0.40% 0.60% -0.10% -  
                   
  04/16 Business Inventories 07:00 Feb 0.60% 0.60% 0.60% -  
                   
  04/16 NAHB Housing Market Index 07:00 Apr 70.00 69.00 70.00 -  
                   
  04/16 Total Net TIC Flows 13:00 Feb - $44.70b $119.70b $122.60b  
                   
  04/16 Net Long-term TIC Flows 13:00 Feb - $49.00b $62.10b $61.40b  
                   
  04/17 Housing Starts 05:30 Mar 1267k 1319k 1236k 1295k  
                   
  04/17 Housing Starts MoM 05:30 Mar 2.50% 1.90% -7.00% -3.30%  
                   
  04/17 Building Permits 05:30 Mar 1321k 1354k 1298k 1321k  
                   
  04/17 Building Permits MoM 05:30 Mar 0.00% 2.50% -5.70% -4.10%  
                   
  04/17 Industrial Production MoM 06:15 Mar 0.30% 0.50% 1.10% 1.00%  
                   
  04/17 Capacity Utilization 06:15 Mar 77.90% 78.00% 78.10% 77.70%  
                   
  04/18 MBA Mortgage Applications 04:00 13 Apr - 4.90% -1.90% -  
                   
  04/18 U.S. Federal Reserve Releases Beige Book 11:00 - - - - -  
                   
  04/19 Initial Jobless Claims 05:30 14 Apr 230k - 233k -  
                   
  04/19 Continuing Claims 05:30 7 Apr 1845k - 1871k -  
                   
  04/19 Philadelphia Fed Business Outlook 05:30 Apr 21.00 - 22.30 -  
                   
  04/19 Bloomberg Consumer Comfort 06:45 15 Apr - - 58.00 -  
                   
  04/19 Leading Index 07:00 Mar 0.30% - 0.60% -  
                   
  04/20 No Data - - - - - -  
                   
 
 
 
 
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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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