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Market Commentary


 
Today's Coupons
 
  10-Year Notes   97-27.5 (-05.5) 1.865%  
 
  FN 3.5% Coupon   104-17 (-03.5)  
 
  Support   2.050%  
 
  Resistance   1.700%  
 
 
 
 
Today's Blurb Thursday, April 21, 2016
 
 
          Initial Jobless Claims fell 6K last week to 247K (consensus 265K) from an unrevised 253K prior to mark the 59th consecutive week of jobless claims below 300K and the lowest level since November 24th 1973. The marathon run of claims below 300K coupled with the lowest level in 42 years are evidence of an improving labor market with declining slack. The four week moving average of Initial Claims fell 4.5K from 265K to 260.5K. Continuing claims fell 39K to 2137K (consensus 2173K) from a slightly upward revised 2176K. According to the FHFA, Home Prices increased 0.40% in February (consensus +0.40%) with a downward revision in January from 0.50% to 0.40%. The Leading Index posted below consensus of 0.40% at 0.20% with a downward revision in February from +0.10% to -0.10%. Treasuries declined for the fourth consecutive day following the better than expected Claims data, in-line HPI, and a boost in oil prices which dampened safe haven demand. Oil traded at the highest level in almost five months, with Brent currently at $45.50/barrel. The curve has steepened with 2s10s up 1.1 bps.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  04/18 NAHB Housing Market Index 07:00 Apr 59.00 58.00 58.00 -  
                   
  04/19 Housing Starts 05:30 Mar 1166K 1089K 1178K 1194K  
                   
  04/19 Housing Starts MoM 05:30 Mar -1.10% -8.80% 5.20% 6.90%  
                   
  04/19 Building Permits 05:30 Mar 1200K 1086K 1167K 1177K  
                   
  04/19 Building Permits MoM 05:30 Mar 2.00% -7.70% -3.10% -2.20%  
                   
  04/20 MBA Mortgage Applications 04:00 15 Apr  - 1.30% 10.00% -  
                   
  04/20 Existing Home Sales 07:00 Mar 5.28M 5.33M 5.08M 5.07M  
                   
  04/20 Existing Home Sales MoM 07:00 Mar 3.90% 5.10% -7.10% -7.30%  
                   
  04/21 Initial Jobless Claims 05:30 16 Apr 265K 247K 253K -  
                   
  04/21 Continuing Claims 05:30 9 Apr 2173K 2137K 2171K 2176K  
                   
  04/21 Philadelphia Fed Business Outlook 05:30 Apr 9.00 -1.60 12.40 -  
                   
  04/21 FHFA House Price Index MoM 06:00 Feb 0.40% 0.40%   0.50% 0.40%  
                   
  04/21 Bloomberg Consumer Comfort 06:45 17 Apr - 42.90 43.60 -  
                   
  04/21 Leading Index 07:00 Mar 0.40% 0.20%    0.10% -0.10%  
                   
  04/22 Markit US Manufacturing PMI 06:45 Apr P 52.00 - 51.50 -  
                   
 
 
 
 
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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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