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Market Commentary


 
 
Today's Coupons
 
  10-Year Notes   107-16 (+01)  
 
  FN 3.5% Coupon   105-10 (-00.5)  
 
  Support   2.426%  
 
  Resistance   0.547%  
 
 
 
 
  Tuesday, May 12, 2020
 
 

Treasury Yields Slightly Lower amid Easing Lockdowns

 
 
Market opened today’s session with treasuries slightly edging higher across all maturities. 10-year Treasury yield is at 0.6954, 1.45 bps decreased from prior closing of 0.7099.

White House health advisor Dr Fauci testified before the Senate Health Committee this morning. He noted that a vaccine will be essential and warned that it may take a while before a usable vaccine will be available, issuing a stern warning against reopening the economy too soon. The WHO also said that several countries including China which had eased restrictions saw increases in the number of confirmed cases of the coronavirus. US stocks fluctuated this morning as investors evaluated measures to ease the current lockdowns. Both Treasuries and the dollar were little changed with oil advancing as its demand continued to recover. NFIB Small Business Optimism in April unexpectedly came in above consensus of 83.00 at 90.90 but still below its prior reading of 96.40. Both the headline and the core CPI in April also declined to -0.80% and -0.40% from -0.40% and -0.10% prior, respectively. Later today, the US Treasury is scheduled to auction off $32 billion of 10-year notes at 10:00 AM (PT), and Monthly Budget Statement in April will be released at 11:00 AM (PT).

The curve has bull-flattened with UST 10-Year yield down 1.45 bps.

 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  05/11 No Data - - - - - -  
                   
  05/12 NFIB Small Business Optimism 03:00 Apr 83.00 90.90 96.40 -  
                   
  05/12 CPI MoM 05:30 Apr -0.80% -0.80% -0.40% -  
                   
  05/12 CPI YoY 05:30 Apr 0.40% 0.30% 1.50% -  
                   
  05/12 CPI Index NSA 05:30 Apr 256.489 256.389 258.115 -  
                   
  05/12 CPI Core Index SA 05:30 Apr 266.110 265.601 266.795 -  
                   
  05/12 Real Avg Weekly Earnings YoY 05:30 Apr - 6.90% 0.70% 0.60%  
                   
  05/13 MBA Mortgage Applications 04:00 8 May - - 0.10% -  
                   
  05/13 PPI Final Demand MoM 05:30 Apr -0.50% - -0.20% -  
                   
  05/13 PPI Final Demand YoY 05:30 Apr -0.40% - 0.70% -  
                   
  05/14 Initial Jobless Claims 05:30 9 May 2500k - 3169k -  
                   
  05/14 Continuing Claims 05:30 2 May 25000k - 22647k -  
                   
  05/14 Import Price Index MoM 05:30 Apr -3.20% - -2.30% -  
                   
  05/14 Import Price Index YoY 05:30 Apr -7.40% - -4.10% -  
                   
  05/14 Export Price Index MoM 05:30 Apr -2.30% - -1.60% -  
                   
  05/14 Export Price Index YoY 05:30 Apr - - -3.60% -  
                   
  05/14 Bloomberg Consumer Comfort 06:45 10 May - - 36.90 -  
                   
  05/15 Retail Sales Advance MoM 05:30 Apr -11.70% - -8.70% -8.40%  
                   
  05/15 Empire Manufacturing 05:30 May -60.00 - -78.20 -  
                   
  05/15 Capacity Utilization 06:15 Apr 64.00% - 72.70% -  
                   
  05/15 U. of Mich. Sentiment 07:00 Mar P 67.50 - 71.80 -
                   
 
 
 
 
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  This information is provided solely for informational use and is not intended as an advice for trading or investment purposes 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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