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Market Commentary


 
Today's Coupons
 
  10-Year Notes   98-19(-15.5) 2.283%  
 
  FN 3.5% Coupon   103-26 (-09)  
 
  Support   2.400%  
 
  Resistance   1.620%  
 
 
 
 
Today's Blurb Tuesday, May 19, 2015
 
 
       Housing starts rose 20.2% in April to 1135K (consensus +9.6%) with March revised up from 926K to 944K. Building Permits rose +10.1% to 1143K (consensus 10.1%) with March revised up from 2.0% to 4.9%. This is the largest monthly percentage gain in Housing Starts since February 1991. The jump in Housing Starts is encouraging for the housing market, and in response treasuries are selling-off and the curve has bear steepened with 2s10s up +2.2 bps. Tomorrow we get the FOMC minutes release in which we hope to gain further insight as to when the Fed will raise rates and their views on current economic conditions.
 
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  05/18 No Data - - - - - -  
                   
  05/19 Housing Starts 05:30 Apr 1015K 1153K 926K 944K  
                   
  05/19 Housing Starts MoM 05:30 Apr 9.60% 20.20% 2.00% 4.90%  
                   
  05/19 Building Permits 05:30 Apr 1064K 1143K 1039K 1038K  
                   
  05/19 Building Permits MoM 05:30 Apr 2.10% 10.10% -5.70% -5.50%  
                   
  05/20 MBA Mortgage Applications 04:00 May 15 - - -3.50% -  
                   
  05/20 FOMC Minutes 11:00 - - - - -  
                   
  05/21 Initial Jobless Claims 05:30 May 16 270K - 264K -  
                   
  05/21 Continuing Claims 05:30 May 9 2231K - 2229K -  
                   
  05/21 Markit US Manufacturing PMI 06:45 May P 54.50 - 54.10 -  
                   
  05/21 Existing Home Sales 07:00 Apr 5.23 MM - 5.19 MM -  
                   
  05/21 Existing Home Sales MoM 07:00 Apr 0.80% - 6.10% -  
                   
  05/22 CPI MoM 05:30 Apr 0.10% - 0.20% -  
                   
  05/22 CPI YoY 05:30 Apr -0.20% - -0.10% -  
                   
 
 
 
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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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