Back to top

Market Commentary

Home
Market Commentary


 
Today's Coupons
 
  10-Year Notes   98-09.5 (+02)  
 
  FN 3.5% Coupon   99-07 (00)  
 
  Support   3.026%  
 
  Resistance   2.719%  
 
 
 
 
Monday, April 30, 2018
 
 
Treasuries are higher than Friday at the opening of today’s session. The yield on the UST 10-Year is currently at 2.950% after closing at 2.958% during the prior session.

In this morning, Personal Income during March reflected a 0.30% change, matching previous revised mark but falling slightly short of estimated 0.40% mark. Also, Personal Spending for the same period reflected a 0.40% change, matching estimates and rising over 0.00% previous revised mark. Further, month-over-month Pending Home Sales for March came in at 0.40%, below estimated 0.70% and dropping from previous revised mark of 2.80%; while year-over-year Pending Home Sales for the same period came in at -4.40%, slightly improving from previous -4.70% revised. Finally, the Chicago Purchasing Manager Index scored 57.60 during April, missing survey target of 58.00 but rising from previous 57.40; while the Dallas Fed Manufacturing Activity Index for April scored 21.80, below survey of 23.00 and down from prior 22.80 revised.   

This quarter’s funding needs for the U.S. Treasury will be announced on Wednesday; market expects across-the-curve increases in issuances. Also on Wednesday, the Fed’s FOMC will announce the committee’s decision on maintaining or raising short-term interest rates following their reading on the economic outlook and inflation targets.

The curve has bull-flattened with the UST 10-Year yield down 0.8 bp from prior closing.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  04/30 Personal Income 05:30 Mar 0.40% 0.30% 0.40% 0.30%  
                   
  04/30 Personal Spending 05:30 Mar 0.40% 0.40% 0.20% 0.00%  
                   
  04/30 PCE Deflator MoM 05:30 Mar 0.00% 0.00% 0.20% -  
                   
  04/30 PCE Deflator YoY 05:30 Mar 2.00% 2.00% 1.80% 1.70%  
                   
  04/30 PCE Core MoM 05:30 Mar 0.20% 0.20% 0.20% -  
                   
  04/30 PCE Core YoY 05:30 Mar 1.90% 1.90% 1.60% -  
                   
  04/30 Pending Home Sales MoM 07:00 Mar 0.70% 0.40% 3.10% 2.80%  
                   
  04/30 Pending Home Sales NSA YoY 07:00 Mar - -4.40% -4.40% -4.70%  
                   
  04/30 Dallas Fed Manf. Activity 07:30 Apr 23.00 21.80 21.40 22.80  
                   
  05/01 Markit US Manufacturing PMI 06:45 Apr F 56.50 - 56.50 -  
                   
  05/01 Construction Spending MoM 07:00 Mar 0.50% - 0.10% -  
                   
  05/01 ISM Manufacturing 07:00 Apr 58.40 - 59.30 -  
                   
  05/01 ISM Prices Paid 07:00 Apr 78.50 - 78.10 -  
                   
  05/02 MBA Mortgage Applications 04:00 27 Apr - - -0.20% -  
                   
  05/02 ADP Employment Change 05:15 Apr 198k - 241k -  
                   
  05/02 FOMC Rate Decision (Upper Bound) 11:00 2 May 1.75% - 1.75% -  
                   
  05/02 FOMC Rate Decision (Lower Bound) 11:00 2 May 1.50% - 1.50% -  
                   
  05/03 Challenger Job Cuts YoY 04:30 Apr - - 39.40% -  
                   
  05/03 Nonfarm Productivity 05:30 1Q P 0.90% - 0.00% -  
                   
  05/03 Initial Jobless Claims 05:30 28 Apr 225k - 209k -  
                   
  05/03 Continuing Claims 05:30 21 Apr 1835k - 1837k -  
                   
  05/03 Unit Labor Costs 05:30 1Q P 3.00% - 2.50% -  
                   
  05/03 Trade Balance 05:30 Mar -$50.00b - -$57.60b -  
                   
  05/03 Bloomberg Consumer Comfort 06:45 29 Apr - - 57.50 -  
                   
  05/03 Markit US Services PMI 06:45 Apr F 54.40 - 54.40 -  
                   
  05/03 Markit US Composite PMI 06:45 Apr F - - 54.80 -  
                   
  05/03 Durable Goods Orders 07:00 Mar F - - 2.60% -  
                   
  05/03 Durables Ex Transportation 07:00 Mar F - - 0.00% -  
                   
  05/03 Factory Orders 07:00 Mar 1.40% - 1.20% -  
                   
  05/04 Change in Nonfarm Payrolls 05:30 Apr 190k - 103k -  
                   
  05/04 Unemployment Rate 05:30 Apr 4.00% - 4.10% -  
                   
  05/04 Average Hourly Earnings MoM 05:30 Apr 0.20% - 0.30% -  
                   
  05/04 Average Hourly Earnings YoY 05:30 Apr 2.70% - 2.70% -  
                   
  05/04 Labor Force Participation Rate 05:30 Apr 62.90% - 62.90% -  
                   
 
 
 
 
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  
 
©2019 Sun West Mortgage Company, Inc. All Rights Reserved