Back to top

Market Commentary

Home
Market Commentary


 
Today's Coupons
 
  10-Year Notes   99-07.5 (-03.5)  
 
  FN 3.5% Coupon   98-28 (-0.5)  
 
  Support   3.111%  
 
  Resistance   2.759%  
 
 
 
 
Tuesday, June 12, 2018
 
 
Treasuries are lower across the curve this morning from yesterday’s close. The UST 10-Year yield is currently at 2.969% after closing at 2.953% prior.

The U.S. and North Korea concluded its historic summit with an agreement to seek complete denuclearization of the Korean Peninsula. Although the timeline of lifting its sanctions remains undefined, President Trump immediately announced a suspension of military exercises with South Korea. However, he stated that U.S. troops will not be removed from the peninsula and that the sanctions will continue until North Korea’s nuclear program is no longer a threat. With the conclusion of this summit, investors will shift their focus on central banks as both the Feds and the European Central Bank are scheduled to announce their latest policy decisions on Wednesday and Thursday respectively.

This morning we received the May NFIB Small Business Optimism which beat expectations at 107.80 versus 105.00 per consensus as it surged to its highest level since 1983. We also received the May CPI print which rose 0.20% month-over-month as expected, bringing the CPI YoY up to 2.80% from 2.50% prior. CPI excluding Food and Energy rose 0.20% following a 0.10% increase in April, bringing its YoY level up to 2.20% from 2.10% prior. Lastly, Real Average Weekly Earnings year-over-year dropped to 0.30% from 0.40% prior, while Real Average Hourly Earnings year-over-year fell to 0.00% from 0.20% prior. Later today at 10:00 AM (PT), U.S. will sell $14 billion 30-Year Bonds Reopening.

The curve has bear-steepened with the UST 10-Year yield up 1.6 bps from prior closing.

 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  06/11 No Data - - - - - -  
                   
  06/12 NFIB Small Business Optimism 03:00 May 105.00 107.80 104.80 -  
                   
  06/12 CPI MoM 05:30 May 0.20% 0.20% 0.20% -  
                   
  06/12 CPI YoY 05:30 May 2.80% 2.80% 2.50% -  
                   
  06/12 Monthly Budget Statement 11:00 May -$144.00b - -$88.40b -  
                   
  06/13 MBA Mortgage Applications 04:00 8 Jun - - 4.10% -  
                   
  06/13 PPI Final Demand MoM 05:30 May 0.30% - 0.10% -  
                   
  06/13 PPI Final Demand YoY 05:30 May 2.80% - 2.60% -  
                   
  06/13 FOMC Rate Decision (Upper Bound) 11:00 13 Jun 2.00% - 1.75% -  
                   
  06/13 FOMC Rate Decision (Lower Bound) 11:00 13 Jun 1.75% - 1.50% -  
                   
  06/14 Initial Jobless Claims 05:30 9 Jun 224k - 222k -  
                   
  06/14 Retail Sales Advance MoM 05:30 May 0.40% - 0.30% 0.20%  
                   
  06/14 Continuing Claims 05:30 2 Jun 1734k - 1741k -  
                   
  06/14 Import Price Index MoM 05:30 May 0.50% - 0.30% -  
                   
  06/14 Import Price Index YoY 05:30 May 3.90% - 3.30% -  
                   
  06/14 Export Price Index MoM 05:30 May 0.30% - 0.60% -  
                   
  06/14 Export Price Index YoY 05:30 May - - 3.80% -  
                   
  06/14 Bloomberg Consumer Comfort 06:45 10 Jun - - 54.80 -  
                   
  06/14 Business Inventories 07:00 Apr 0.30% - 0.00% -  
                   
  06/15 Empire Manufacturing 05:30 Jun 19.00 - 20.10 -  
                   
  06/15 Industrial Production MoM 06:15 May 0.20% - 0.70% -  
                   
  06/15 Capacity Utilization 06:15 May 78.10% - 78.00% -  
                   
  06/15 U. of Mich. Sentiment 07:00 Jun P 98.50 - 98.00 -  
                   
 
 
 
 
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