Back to top

Market Commentary

Home
Market Commentary


 

 
Today's Coupons
 
  10-Year Notes   99-24 (+085)  
 
  FN 3.5% Coupon   105-13 (+02)  
 
  Support   2.426%  
 
  Resistance   0.547%  
 
 
 
 
  Wednesday, May 13, 2020
 
 

Treasury Yields Slightly Lower after Warning from Powell

 
 
Market opened today’s session with treasuries slightly edging higher across all maturities. 10-year Treasury yield is at 0.6573, 0.78 bp decreased from prior closing of 0.6651.

US stocks fell and Treasuries rallied as investors digested downbeat comments from Fed Chair Powell earlier this morning. He said that the economic outlook was uncertain and the downside risks were significant and that policymakers might have to use additional measures to pull the country out of the deepest slump since the Great Depression though he did not specify what those measures are. The dollar was little changed and mortgages outperformed Treasuries in lower coupons. In the economic calendar, mortgage applications to buy homes in the US rose for a fourth consecutive week, displaying stabilized demand in the housing market despite the current lockdowns. The overall index rose 0.30% after rising 0.10% in prior week. Purchases increased 10.60%, climbing more than 33% since early April which marked the biggest four-week gain since November 2008 as more Americans tried to take advantage of current mortgage rates nearing record lows. Refinances fell 3.30% after falling 1.70% in prior week. Lastly, PPI Final Demand in April fell below expectation of -0.50% to -1.30% from -0.20% prior.

The curve has bull-flattened with UST 10-Year yield down 0.78 bp.

 
 
   
 
   
 
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 - 0.30% 0.10% -  
                   
  05/13 PPI Final Demand MoM 05:30 Apr -0.50% -1.30% -0.20% -  
                   
  05/13 PPI Final Demand YoY 05:30 Apr -0.40% -1.20% 0.70% -  
                   
  05/14 Initial Jobless Claims 05:30 9 May 2500k - 3169k -  
                   
  05/14 Continuing Claims 05:30 2 May 25120k - 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 -12.00% - -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 -
                   
 
 
 
 
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 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.  
 
 
© Sun West Mortgage Company, Inc. All Rights Reserved