Back to top

Market Commentary

Home
Market Commentary


 
Today's Coupons
 
  10-Year Notes   99-21 (-03.5)  
 
  FN 3.5% Coupon   99-11.5 (-01.5)  
 
  Support   3.111%  
 
  Resistance   2.759%  
 
 
 
 
Monday, June 04, 2018
 
 
Treasuries are slightly lower across the curve this morning from Friday’s close. The UST 10-Year yield is currently at 2.918% after closing at 2.903% prior. 
Treasuries held steady at open despite a broad risk-on mode as U.S. stocks advanced overnight on continued optimism regarding the current economic outlook after Friday’s strong employment reports. This morning we received the Factory Orders for April which fell 0.80% following an upwardly revised 1.70% increase prior; consensus called for a 0.50% drop month-over-month. Durable Goods Orders fell 1.60% after dropping 1.70% prior, while Durables excluding Transportation gained 0.90% which was unchanged from prior. Capital Goods Orders Nondefense excluding Aircraft and Parts rose 1.00% month-over-month, while Capital Goods Ship Nondefense excluding Aircraft and Parts rose 0.90% following a 0.80% increase prior.
The remainder of this week’s economic reports will be fairly quiet. On Tuesday, we will receive the final reading of Markit US Services and Composite PMI for May as well as the ISM Non-Manufacturing Composite for May. On Wednesday we will receive the 1Q final print of Nonfarm Productivity and Unit Labor Costs along with the Trade Balance for April, and on Thursday we will receive the Consumer Credit data for April. Lastly, the April Wholesale Trade Sales and Wholesale Inventories reports will be released on Friday.
The curve has bear-flattened with the UST 10-Year yield up 1.5 bps from prior closing.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  06/04 Factory Orders 07:00 Apr -0.50% -0.80% 1.60% 1.70%  
                   
  06/04 Durable Goods Orders 07:00 Apr F - -1.60% -1.70% -  
                   
  06/04 Durables Ex Transportation 07:00 Apr F - 0.90% 0.90% -  
                   
  06/05 Markit US Services PMI 06:45 May F 55.70 - 55.70 -  
                   
  06/05 Markit US Composite PMI 06:45 May F - - 55.70 -  
                   
  06/05 JOLTS Job Openings 07:00 Apr 6350 - 6550 -  
                   
  06/06 MBA Mortgage Applications 04:00 1 Jun - - -2.90% -  
                   
  06/06 Nonfarm Productivity 05:30 1Q F 0.60% - 0.70% -  
                   
  06/06 Unit Labor Costs 05:30 1Q F 2.80% - 2.70% -  
                   
  06/06 Trade Balance 05:30 Apr -$49.00b - -$49.00b -  
                   
  06/07 Initial Jobless Claims 05:30 2 Jun 221k - 221k -  
                   
  06/07 Continuing Claims 05:30 26 May 1740k - 1726k -  
                   
  06/07 Bloomberg Consumer Comfort 06:45 3 Jun - - 55.20 -  
                   
  06/08 Wholesale Inventories MoM 07:00 Apr F - - - -  
                   
  06/08 Wholesale Trade Sales MoM 07:00 Apr - - 0.30% -  
                   
 
 
 
 
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