Back to top

Market Commentary

Home
Market Commentary


 
Today's Coupons
 
  10-Year Notes   99-23 (-01)  
 
  FN 3.5% Coupon   101-07 (-0.5)  
 
  Support   3.237%  
 
  Resistance   2.389%  
 
 
 
 
Tuesday, May 14, 2019
 
 
Treasury Yields Slightly Climb as Investors Await Further Trade Developments
 
 
Market opened today’s session with treasuries nearly unchanged across all maturities. 10-Year treasury yield is at 2.4068, 0.53 bp increased from prior closing of 2.4015.

US equity futures edged higher and treasuries remained steady as the dollar gained this morning. The rebound in equity came after President Trump confirmed that he will meet with his Chinese counterpart Xi at G-20 summit next month and predicted that the talks with China “are going to be very successful”. However, the US Trade Representative’s office still released the list of $300 billion of Chinese imports which will be subject to another 25.00% tariffs imposition. This prolonged standoff kept investors on edge of their seats as they feared it might lead to worsened global growth. In corporate news, Alibaba, Tencent, Cisco, and Nvidia are among the companies which are scheduled to post their earnings results this week. Elsewhere, WTI crude advanced this morning as Saudi Arabia reported that unidentified drones attacked two pumping stations, muddying the oil supply outlook.

NFIB Small Business Optimism displayed optimism in April, printing a reading of 103.50 above consensus of 102.00, following 101.80 in March. However, it may be a different story for May as the new tariffs between the US and China can affect the reading. The headline Import Price Index in April dropped to 0.20% from 0.60% prior vs. 0.70% consensus. The core also fell to -0.60% from 0.20% prior vs. 0.20% consensus. Later today, Kansas City Fed President George will speak to the Economic Club of Minnesota in Minneapolis and San Francisco Fed President Daly will speak at Northwestern University in Evanston, Illinois.

The curve has bear-steepened with UST 10-Year yield up 0.53 bp.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  05/13 No Data - - - - - -  
                   
  05/14 NFIB Small Business Optimism 02:03 Apr 102.00 103.50 101.80 -  
                   
  05/14 Import Price Index MoM 05:30 Apr 0.70% 0.20% 0.60% -  
                   
  05/14 Import Price Index YoY 05:30 Apr 0.30% -0.20% 0.00% 0.10%  
                   
  05/14 Export Price Index MoM 05:30 Apr 0.60% 0.20% 0.70% 0.60%  
                   
  05/14 Export Price Index YoY 05:30 Apr - 0.30% 0.60% -  
                   
  05/15 MBA Mortgage Applications 04:00 10 May - - 2.70% -  
                   
  05/15 Retail Sales Advance MoM 05:30 Apr 0.20% - 1.60% -  
                   
  05/15 Empire Manufacturing 05:30 May 8.00 - 10.10 -  
                   
  05/15 Industrial Production MoM 06:15 Apr 0.00% - -0.10% -  
                   
  05/15 Capacity Utilization 06:15 Apr 78.70% - 78.80% -  
                   
  05/15 NAHB Housing Market Index 07:00 May 64.00 - 63.00 -  
                   
  05/15 Business Inventories 07:00 Mar 0.00% - 0.30% -  
                   
  05/16 Housing Starts 05:30 Apr 1208k - 1139k -  
                   
  05/16 Housing Starts MoM 05:30 Apr 6.10% - -0.30% -  
                   
  05/16 Building Permits 05:30 Apr 1290k - 1269k 1269k  
                   
  05/16 Building Permits MoM 05:30 Apr 1.70% - -1.70% -0.20%  
                   
  05/16 Philadelphia Fed Business Outlook 05:30 May 9.00 - 8.50 -  
                   
  05/16 Initial Jobless Claims 05:30 11 May 220k - 228k -  
                   
  05/16 Continuing Claims 05:30 4 May 1675k - 1684k -  
                   
  05/16 Bloomberg Consumer Comfort 06:45 12 May - - 59.80 -  
                   
  05/17 Leading Index 07:00 Apr 0.20% - 0.40% -  
                   
  05/17 U. of MichSentiment 07:00 May P 97.20 - 97.20 -
                   
 
 
 
 
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