Back to top

Market Commentary

Home
Market Commentary


 
Today's Coupons
 
  10-Year Notes   100-07 (+04.5)  
 
  FN 3.5% Coupon   102-31.5 (+02.5)  
 
  Support   2.268%  
 
  Resistance   2.165%  
 
 
 
 
Friday, April 21, 2017
 
 
Treasuries are slightly higher across the curve this morning after falling over the past two days. The UST 10-Year yield is currently at 2.220% after closing at 2.233% prior.

Yesterday Treasury Secretary Mnuchin announced that the Trump administration's tax reform will be taking place “soon”, causing investors to flee from safe-haven assets into stocks, adding to a sell-off in bonds. The sell-off essentially erased all the gains that Treasuries made last week from geopolitical tensions with Syria and North Korea.

This morning we received April Markit US Manufacturing PMI, which came in below expectations at 52.80 versus 53.30 prior. Markit US Services PMI also came in below expectations at 52.50 versus 52.80 prior. Markit US Composite PMI slipped to 52.70 from 53.00 prior. Existing Home Sales for the month of March came in above expectations at 5.71 Million annual rate after a downwardly revised 5.47 Million in the month prior.

There are two Fed Speaks scheduled today from Minneapolis Fed President Kashkari and Fed Vice Chair Fischer. However, investors will be looking ahead to this weekend's first round of the French presidential election, with the announcement of the results coming in at 6:00 AM (PT) on Sunday.

The curve has bull-flattened with the UST 10-Year down 1.3 bps from prior closing.

Have A Lovely Weekend!
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  04/17 Empire Manufacturing 05:30 Apr 15.00 5.20 16.40 -  
                   
  04/17 NAHB Housing Market Index 07:00 Apr 70.00 68.00 71.00 -  
                   
  04/17 Total Net TIC Flows 13:00 Feb - $19.30b $110.40b $121.20b  
                   
  04/18 Housing Starts 05:30 Mar 1250k 1215k 1288k 1303k  
                   
  04/18 Housing Starts MoM 05:30 Mar -3.00% -6.80% 3.00% 5.00%  
                   
  04/18 Building Permits 05:30 Mar 1250k 1260k 1213k 1216k  
                   
  04/18 Building Permits MoM 05:30 Mar 2.80% 3.60% -6.20% -6.00%  
                   
  04/18 Industrial Production MoM 06:15 Mar 0.50% 0.50% 0.00% 0.10%  
                   
  04/18 Capacity Utilization 06:15 Mar 76.10% 76.10% 75.40% 75.70%  
                   
  04/19 MBA Mortgage Applications 04:00 14 Apr - -1.80% 1.50% -  
                   
  04/19 U.S. Federal Reserve Releases Beige Book 11:00 - - - - -  
                   
  04/20 Initial Jobless Claims 05:30 15 Apr 240k 244k 234k -  
                   
  04/20 Continuing Claims 05:30 8 Apr 2024k 1979k 2028k -  
                   
  04/20 Philadelphia Fed Business Outlook 05:30 Apr 25.50 22.00 32.80 -  
                   
  04/20 Bloomberg Consumer Comfort 06:45 16 Apr - 49.90 51.00 -  
                   
  04/20 Leading Index 07:00 Mar 0.20% 0.40% 0.60% 0.50%  
                   
  04/21 Markit US Manufacturing PMI 06:45 Apr P 53.80 52.80 53.30 -  
                   
  04/21 Markit US Services PMI 06:45 Apr P 53.20 52.50 52.80 -  
                   
  04/21 Markit US Composite PMI 06:45 Apr P - 52.70 53.00 -  
                   
  04/21 Existing Home Sales 07:00 Mar 5.60m 5.71m 5.48m 5.47m  
                   
  04/21 Existing Home Sales MoM 07:00 Mar 2.20% 4.40% -3.70% -3.90%  
                   
 
 
 
 
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  
 
©2017 Sun West Mortgage Company, Inc. All Rights Reserved