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Market Commentary


 
Today's Coupons
 
  10-Year Notes   97-29.5 (+06) 2.238%  
 
  FN 3.5% Coupon   104-0.5 (+06.5)  
 
  Support   2.400%  
 
  Resistance   1.620%  
 
 
 
 
Today's Blurb Wednesday, May 13, 2015
 
 
       MBA Mortgage Applications fell -3.5% last week following two consecutive weekly declines of -4.6% and -2.3% (+13.7% YoY). Purchases slipped -0.2% vs. +0.8% prior (+12.3% YoY), Refinancing fell -5.9% vs. -8.3% prior (+15.2% YoY), and the average interest rate for a conforming conventional 30-Year loan hit 4.00% vs. 3.93% prior (4.39% a year ago). Retail Sales came in flat in April, disappointing market consensus for a +0.2% advance. Americans cut back on gasoline and larger asset purchases such as: autos, home furnishings and household electronics. Retail Sales excluding automobiles edged up +0.1%. Sales over the past 12 months have slowed to a 0.9% rate. Meanwhile, in March Retail Sales was revised up to +1.1% vs. +0.9% prior. Import Prices fell -0.3% in April following an upwardly revised decline of -0.2% in March (-0.3% prior). Import Prices are down -10.7% YoY. Export Prices fell -0.7% and are down -6.3% YoY. Treasuries bounced back yesterday, and today are continuing to rally following the soft Retail Sales data. The curve has bull flattened with 2s10s down -0.5 bps.
 
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  05/11 No Data - - - - - -  
                   
  05/12 No Data - - - - - -  
                   
  05/13 MBA Mortgage Applications 04:00 May 8 - -3.50% -4.60% -  
                   
  05/13 Retail Sales Advance MoM 05:30 Apr 0.20% 0.00% 0.90% 1.10%  
                   
  05/13 Import Price Index MoM 05:30 Apr 0.30% -0.30% -0.30% -0.20%  
                   
  05/13 Import Price Index YoY 05:30 Apr -9.70% -10.70% -10.50% -10.90%  
                   
  05/14 PPI Final Demand MoM 05:30 Apr 0.10% - 0.20% -  
                   
  05/14 PPI Final Demand YoY 05:30 Apr -0.80% - -0.80% -  
                   
  05/14 Initial Jobless Claims 05:30 May 9 273K - 265K -  
                   
  05/14 Continuing Claims 05:30 May 2 2232K - 2228K -  
                   
  05/15 Empire State Manufacturing 05:30 May 5.00 - -1.19 -  
                   
  05/15 Industrial Production MoM 06:15 Apr 0.00% - -0.60% -  
                   
 
 
 
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(844) 732-6632
 
 
 
 
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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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