Back to top

Market Commentary

Home
Market Commentary



 
Today's Coupons
 
  10-Year Notes   99-08.5 (-11)  
 
  FN 2.5% Coupon   103-28 (-03.5)  
 
  Support   2.138%  
 
  Resistance   0.635%  
 
 
 
 
  Friday, June 12, 2020
 
 

Treasury Yields Climb as Stocks Rebound

 
 
Market opened today’s session with treasuries edging lower on the long end of the yield curve. 10-year Treasury yield is at 0.6805, 1.15 bps increased from prior closing of 0.6690.

US stocks rebounded from the sharpest losses in 12 weeks; however, despite the sharp gains this morning, the major averages are on pace to post their first weekly losses in four weeks. Both Treasuries and the dollar edged lower. Elsewhere, WTI crude edged slightly higher, trading above $36 a barrel. The growing warnings about a possible second wave of the coronavirus gained some urgency when officials in Houston said they are "getting close" to reimposing stay-at-home orders. In Florida, the seven-day total of new cases is the highest since the pandemic began. In the economic calendar, Import Price Index in May rose to 1.00% from -2.60% prior vs. 0.60% consensus, and University of Michigan Sentiment also sharply climbed to 78.90 from 72.30 prior vs. 75.00 consensus. This increase marked the biggest jump since 2016 as more states began to reopen their economies and employers restored jobs.

The curve has bear-steepened with UST 10-Year yield up 1.15 bps.

 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  06/08 No Data - - - - - -  
                   
  06/09 NFIB Small Business Optimism 03:00 May 92.50 94.40 90.90 -  
                   
  06/09 JOLTS Job Openings 07:00 Apr 5750 5046 6191 6011  
                   
  06/10 MBA Mortgage Applications 04:00 5 Jun - 9.30% -3.90% -  
                   
  06/10 CPI MoM 05:30 May 0.00% -0.10% -0.80% -  
                   
  06/10 CPI YoY 05:30 May 0.30% 0.10% 0.30% -  
                   
  06/10 CPI Index NSA 05:30 May 256.823 256.394 256.389 -  
                   
  06/10 CPI Core Index SA 05:30 May 265.601 265.441 265.601 -  
                   
  06/10 Real Avg Weekly Earnings YoY 05:30 May - 6.50% 7.50% 7.60%  
                   
  06/10 Monthly Budget Statement 11:00 May -$504.0b - -$207.8b -  
                   
  06/11 PPI Final Demand MoM 05:30 May 0.10% 0.40% -1.30% -  
                   
  06/11 PPI Final Demand YoY 05:30 May -1.20% -0.80% -1.20% -  
                   
  06/11 Initial Jobless Claims 05:30 6 Jun 1550k 1542k 1877k 1897k  
                   
  06/11 Continuing Claims 05:30 30 May 20000k 20929k 21487k 21268k  
                   
  06/11 Bloomberg Consumer Comfort 06:45 7 Jun - 38.70 37.00 -  
                   
  06/12 Import Price Index MoM 05:30 May 0.60% 1.00% -2.60% -  
                   
  06/12 Import Price Index YoY 05:30 May -6.40% -6.00% -6.80% -  
                   
  06/12 Export Price Index MoM 05:30 May 0.50% 0.50% -3.30% -  
                   
  06/12 Export Price Index YoY 05:30 May - -6.00% -7.00% -6.80%  
                   
  06/12 U. of Mich. Sentiment 07:00 Jun P 75.00 78.90 72.30 -
                   
 
 
 
 
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 an advice for trading or investment purposes 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.  
 
 
© Sun West Mortgage Company, Inc. All Rights Reserved