Back to top

Market Commentary

Home
Market Commentary


 
Today's Coupons
 
  10-Year Notes   101-05.5 (-02.5)  
 
  FN 3.5% Coupon   103-00 (-0.5)  
 
  Support   2.389%  
 
  Resistance   2.184%  
 
 
 
 
Monday, May 22, 2017
 
 
Treasuries are lower across the curve this morning from Friday’s close. The UST 10-Year yield is currently at 2.248% after closing at 2.235% prior.

Although last week consisted of a fairly quiet economic calendar, there were plenty of market movements throughout the week, mainly driven by U.S. political headlines. This week’s economic calendar will be heavier, but the market will remain attentive to political activities coming from the White House, along with a sufficient amount of Fed Speak scheduled throughout the week.

This morning we received the Chicago Fed Activity Index for the month of April, which printed at 0.49 from a downwardly revised 0.07 prior. Tomorrow we will receive the New Home Sales data for the month of April, and the Richmond Fed Manufacturing Index for the month of May. Wednesday we will have the Existing Home Sales for April and the release of the FOMC Minutes from the May 3rd meeting. Thursday we will have Wholesale Inventories estimate for April, and on Friday we will receive the 1Q economic numbers.

The curve has bear-flattened with the UST 10-Year up 1.3 bps from prior closing.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  05/22 Chicago Fed Nat Activity Index 05:30 Apr 0.11 0.49 0.08 0.07  
                   
  05/23 Markit US Manufacturing PMI 06:45 May P 53.10 - 52.80 -  
                   
  05/23 Markit US Services PMI 06:45 May P 53.40 - 53.10 -  
                   
  05/23 Markit US Composite PMI 06:45 May P - - 53.20 -  
                   
  05/23 New Home Sales 07:00 Apr 610k - 621k -  
                   
  05/23 New Home Sales MoM 07:00 Apr -1.80% - 5.80% -  
                   
  05/23 Richmond Fed Manufact. Index 07:00 May 15.00 - 20.00 -  
                   
  05/24 MBA Mortgage Applications 04:00 19 May - - -4.10% -  
                   
  05/24 FHFA House Price Index MoM 06:00 Mar 0.50% - 0.80% -  
                   
  05/24 Existing Home Sales 07:00 Apr 5.65m - 5.71m -  
                   
  05/24 Existing Home Sales MoM 07:00 Apr -1.10% - 4.40% -  
                   
  05/24 FOMC Meeting Minutes 11:00 3 May - - - -  
                   
  05/25 Wholesale Inventories MoM 05:30 Apr P 0.20% - 0.20% -  
                   
  05/25 Initial Jobless Claims 05:30 20 May 238k - 232k -  
                   
  05/25 Continuing Claims 05:30 13 May 1925k - 1898k -  
                   
  05/25 Bloomberg Consumer Comfort 06:45 21 May - - 50.20 -  
                   
  05/25 Kansas City Fed Manf. Activity 08:00 May - - 7.00 -  
                   
  05/26 GDP Annualized QoQ 05:30 1Q S - - 0.70% -  
                   
  05/26 Personal Consumption 05:30 1Q S - - 0.30% -  
                   
  05/26 GDP Price Index 05:30 1Q S - - 2.30% -  
                   
  05/26 Durable Goods Orders 05:30 Apr P - - 0.90% -  
                   
  05/26 Core PCE QoQ 05:30 1Q S - - 2.00% -  
                   
  05/26 Durables Ex Transportation 05:30 Apr P - - 0.00% -  
                   
  05/26 U. of Mich. Sentiment 07:00 May F - - - -  
                   
 
 
 
 
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  
 
©2017 Sun West Mortgage Company, Inc. All Rights Reserved