Back to top

Market Commentary

Home
Market Commentary


 
Today's Coupons
 
  10-Year Notes   102-13 (+05)  
 
  FN 3.5% Coupon   102-01 (+01.5)  
 
  Support   3.237%  
 
  Resistance   2.062%  
 
 
 
 
Thursday, June 13, 2019
 
 
Treasury Yields Lower Further as Oil Rallies
 
 
Market opened today’s session with treasuries edging higher across all maturities. 10-Year Treasury yield is at 2.1083, 1.22 bps decreased from prior closing of 2.1205.

US equity futures pointed to a higher open this morning after back-to-back losses. With the trade dispute between the US and China still remaining unresolved, President Trump upped his criticism of Germany yesterday, threatening sanctions over their continued support for a gas pipeline from Russia. As for the trade dispute with China, President Trump said he doesn’t have a deadline for them to return to the negotiation table, other than the one in his head. In Hong Kong, the lawmakers postponed debate on extradition bill after violent clashes from yesterday. Elsewhere, WTI crude rallied this morning after two tankers were damaged in a suspected attack in the Gulf of Oman, erasing Wednesday’s loss.

Import Price Index in May declined to -0.30% from a downwardly revised of 0.10% in April while consensus called for -0.20%. Initial Claims slightly inched higher to 222k from an upwardly revised prior of 219k, continuing to display stability in the job market. Continuing Claims also slightly edged higher but remained calm at 1695k, following an upwardly revised prior of 1693k. Lastly, Bloomberg Consumer Comfort Index printed 61.60 after 61.70 in prior. Later today, the US Treasury is scheduled to auction off $40 billion of 4-week bills and $35 billion of 8-week bills at 8:30 AM (PT), and $16 billion of 30-year bonds reopening at 10:00 AM (PT).

The curve has bull-steepened with UST 10-Year yield down 1.22 bps.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  06/10 JOLTS Job Openings 07:00 Apr 7496 7449 7488 7474  
                   
  06/11 NFIB Small Business Optimism 03:00 May 102.00 105.00 103.50 -  
                   
  06/11 PPI Final Demand MoM 05:30 May 0.10% 0.10% 0.20% -  
                   
  06/11 PPI Final Demand YoY 05:30 May 2.00% 1.80% 2.20% -  
                   
  06/12 MBA Mortgage Applications 04:00 7 Jun - 26.80% 1.50% -  
                   
  06/12 CPI MoM 05:30 May 0.10% 0.10% 0.30% -  
                   
  06/12 CPI YoY 05:30 May 1.90% 1.80% 2.00% -  
                   
  06/12 Monthly Budget Statement 11:00 May -$202.50b -207.80b -$146.80b -  
                   
  06/13 Import Price Index MoM 05:30 May -0.20% -0.30% 0.20% 0.10%  
                   
  06/13 Import Price Index YoY 05:30 May -1.20% -1.50% -0.20% -0.30%  
                   
  06/13 Export Price Index MoM 05:30 May -0.20% -0.20% 0.20% 0.10%  
                   
  06/13 Export Price Index YoY 05:30 May - -0.70% 0.30% 0.20%  
                   
  06/13 Initial Jobless Claims 05:30 8 Jun 215k 222k 218k 219k  
                   
  06/13 Continuing Claims 05:30 1 Jun 1660k 1695k 1682k 1693k  
                   
  06/13 Bloomberg Consumer Comfort 06:45 9 Jun - 61.60 61.70 -  
                   
  06/14 Retail Sales Advance MoM 05:30 May 0.60% - -0.20% -  
                   
  06/14 Industrial Production MoM 06:15 May 0.20% - -0.50% -  
                   
  06/14 Capacity Utilization 06:15 May 78.00% - 77.90% -  
                   
  06/14 U. of Mich. Sentiment 07:00 Jun P 98.00 - 100.00 -  
                   
  06/14 Business Inventories 07:00 Apr 0.50% - 0.00% -
                   
 
 
 
 
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