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Market Commentary

Market Commentary

Today's Coupons
  10-Year Notes   97-04.5 (+07.5) 2.451%  
  FN 3.5% Coupon   102-14.5 (+05.5)  
  Support   2.510%  
  Resistance   2.360%  
Today's Blurb Thursday, June 11, 2015
        Retail Sales picked up in May for the third consecutive month of gains. Retail Sales rose +1.2% in May (consensus +1.2%) and April was revised up from +0.0% to +0.2%. May’s advance was broad based with gains across 11 of the 13 major categories led by auto dealers, clothing, and building material stores. Excluding Automobiles, Retail Sales advanced +1.0% (consensus +0.8%) vs. +0.1% prior. U.S. Import Prices increased in May reversing a run of 10 consecutive monthly declines. Import Prices rose +1.3% (consensus +0.8%) and the prior month was revised up from -0.3% to -0.2%. May’s jump is the largest monthly advance since June 2009. Initial Jobless claims continued to post below 300K for the 14th consecutive week with 279K American’s filing for unemployment (consensus 275K) and last week’s data was revised up from 276K to 277K. The four-week moving average for Jobless Claims climbed to 278,750 vs. 275,000 prior. Continuing Claims rose to 2265K (consensus 2190K) and the prior week was revised up from 2196K to 2204K. Treasuries are up this morning and the curve flattened sharply following today’s data with 2s10s down -4.2 bps.
This Week's Events
  06/08 No Data - - - - - -  
  06/09 Wholesale Inventories MoM 07:00 Apr 0.20% 0.40% 0.10% 0.20%  
  06/09 Wholesale Trade Sales MoM 07:00 Apr 0.60% 1.60% -0.20% -0.30%  
  06/10 MBA Mortgage Applications 04:00 Jun 5 - 8.40% -7.60% -  
  06/11 Retail Sales Advance MoM 05:30 May 1.20% 1.20% 0.00% 0.20%  
  06/11 Import Price Index MoM 05:30 May 0.80% 1.30% -0.30% -0.20%  
  06/11 Import Price Index YoY 05:30 May -10.00% -9.60% -10.70% -10.50%  
  06/11 Initial Jobless Claims 05:30 Jun 6 275K 279K 276K 277K  
  06/11 Continuing Claims 05:30 May 30 2190K 2265K 2196K 2204K  
  06/12 PPI Final Demand MoM 05:30 May 0.40% - -0.40% -  
  06/12 PPI Final Demand YoY 05:30 May -1.10% - -1.30% -  
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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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