Sun West Mortgage Company, Inc.

Today's Coupons


	10-Year Notes		99-13.5 (+03)

	FN 3.5% Coupon		102-22.5 (+02)

	Support		2.345%

	Resistance		2.266%

Tuesday, May 2, 2017

Treasuries are slightly lower across the curve this morning. The UST 10-Year yield is currently at 2.327% after closing at 2.319% prior.

Yesterday the market barely reacted to the disappointing economic prints on ISM Manufacturing and Construction Spending. Instead, investors focused more on the comments from Secretary Mnuchin regarding the Trump Administration’s stance on introducing maturities longer than the current 30-Year limit, which caused Treasuries to sell off.

Today’s quiet economic calendar only consists of the April Wards Auto Sales, which is expecting a total vehicle sale of 17.10 Million from 16.53 Million in March. On Wednesday, the market will be focused on the rate decision from the Fed’s May FOMC meeting. On Thursday, we will receive March Trade Balance, and March Factory Orders. Then on Friday, investors will turn their attention on the release of the Nonfarm Payroll data for the month of April.

The curve has bear-steepened with the UST 10-Year up 0.8 bp from prior closing.

This Week's Events

DATE

EVENT

TIME(PT)

PERIOD

SURVEY

ACTUAL

PRIOR

REVISED

05/01	Personal Income	05:30	Mar	0.30%	0.20%	0.40%	0.30%

05/01	Personal Spending	05:30	Mar	0.20%	0.00%	0.10%	0.00%

05/01	PCE Deflator MoM	05:30	Mar	-0.20%	-0.20%	0.10%	-

05/01	PCE Deflator YoY	05:30	Mar	1.90%	1.80%	2.10%	-

05/01	PCE Core MoM	05:30	Mar	-0.10%	-0.10%	0.20%	-

05/01	PCE Core YoY	05:30	Mar	1.60%	1.60%	1.80%	-

05/01	Markit US Manufacturing PMI	06:45	Apr F	52.80	52.80	52.80	-

05/01	ISM Manufacturing	07:00	Apr	56.50	54.80	57.20	-

05/01	Construction Spending MoM	07:00	Mar	0.40%	-0.20%	0.80%	1.80%

05/02	No Data	-	-	-	-	-	-

05/03	MBA Mortgage Applications	04:00	28 Apr	-	-	2.70%	-

05/03	ADP Employment Change	05:15	Apr	175k	-	263k	-

05/03	Markit US Services PMI	06:45	Apr F	52.50	-	52.50	-

05/03	Markit US Composite PMI	06:45	Apr F	-	-	52.70	-

05/03	FOMC Rate Decision (Upper Bound)	11:00	3 May	1.00%	-	1.00%	-

05/03	FOMC Rate Decision (Lower Bound)	11:00	3 May	0.75%	-	0.75%	-

05/04	Challenger Job Cuts YoY	04:30	Apr	-	-	-2.00%	-

05/04	Nonfarm Productivity	05:30	1Q P	-0.10%	-	1.30%	-

05/04	Initial Jobless Claims	05:30	29 Apr	248k	-	257k	-

05/04	Continuing Claims	05:30	22 Apr	1990k	-	1988k	-

05/04	Bloomberg Consumer Comfort	06:45	30 Apr	-	-	50.80	-

05/04	Factory Orders	07:00	Mar	0.40%	-	1.00%	-

05/04	Durable Goods Orders	07:00	Mar F	0.70%	-	0.70%	-

05/04	Durables Ex Transportation	07:00	Mar F	-	-	-0.20%	-

05/05	Change in Nonfarm Payrolls	05:30	Apr	193k	-	98k	-

05/05	Unemployment Rate	05:30	Apr	4.60%	-	4.50%	-

05/05	Average Hourly Earnings MoM	05:30	Apr	0.30%	-	0.20%	-

05/05	Average Hourly Earnings YoY	05:30	Apr	2.70%	-	2.70%	-

05/05	Underemployment Rate	05:30	Apr	-	-	8.90%	-

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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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