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Market Commentary


 
 
Today's Coupons
 
  10-Year Notes   100-05.5 (+14.5)  
 
  FN 3.5% Coupon   105-15.5 (+04.5)  
 
  Support   2.426%  
 
  Resistance   0.547%  
 
 
 
 
  Thursday, May 14, 2020
 
 

Treasury Yields Decline after Jobless Data

 
 
Market opened today’s session with treasuries rallying across all maturities. 10-year Treasury yield is at 0.6153, 3.72 bps decreased from prior closing of 0.6525.

Stocks extended losses this morning after the latest jobless data and heightened tension between the US and China. President Trump said he did not want to talk to his Chinese counterpart Xi and was examining Chinese companies that trade on the NYSE and Nasdaq but do not follow US accounting rules. The jobless data released today also dampened the sentiment as it showed that the recession is severe. The initial claims indicated that 2.981 million Americans filed unemployment benefits last week which brought the two-month total to 36.5 million. Continuing claims printed 22.833 million while Bloomberg Consumer Comfort index further declined to 35.80 from prior of 36.90. Treasuries and the dollar climbed with mortgages mostly outperforming Treasuries. Elsewhere, with oil supplies falling faster than previously expected as OPEC and its allies slashing output, WTI crude advanced above $26 a barrel this morning.

The curve has bull-flattened with UST 10-Year yield down 3.72 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 - 0.30% 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 2981k 3169k 3176k  
                   
  05/14 Continuing Claims 05:30 2 May 25120k 22833k 22647k 22377k  
                   
  05/14 Import Price Index MoM 05:30 Apr -3.20% -2.60% -2.30% -2.40%  
                   
  05/14 Import Price Index YoY 05:30 Apr -7.40% -6.80% -4.10% -4.20%  
                   
  05/14 Export Price Index MoM 05:30 Apr -2.30% -3.30% -1.60% -1.70%  
                   
  05/14 Export Price Index YoY 05:30 Apr - -7.00% -3.60% -3.80%  
                   
  05/14 Bloomberg Consumer Comfort 06:45 10 May - 35.80 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 63.80% - 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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