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Market Commentary


 
Today's Coupons
 
  10-Year Notes   100-07 (+03.5) 1.601%  
 
  FN 3.5% Coupon   105-02 (+01)  
 
  Support   1.813%  
 
  Resistance   1.645%  
 
 
 
 
Today's Blurb Wednesday, June 15, 2016
 
 
            In addition to the highly anticipated FOMC rate decision, we have handful of economic data came out this morning. MBA Mortgage Applications fell 2.40% last week after rising 9.30% in the prior. The headline PPI rose 0.40% in May, following a 0.20% increase in the prior vs. 0.30% consensus. The U.S. Empire Manufacturing Survey bounced back from a 9.02 decline prior to 6.01 vs. -4.90 consensus. The Fed announces its rate decision at 11:00 AM (PT). Although it is highly unlikely for them to raise rates this time, their tone will convey message to the market if current levels reflect valid path and projection of rates. The curve has bull flattened with UST 10-Year yield down 1 bp.
 
           *Volatility Notes: 10-Year yields have recently been lower due to soaring volatility on the U.K. referendum on the membership in the EU. If the Fed maintains their projections of 2 hikes this year, it is largely anticipated that such statement may be viewed by the market as more hawkish than expected.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  06/13 No Data - - - - - -  
                   
  06/14 Import Price Index MoM 05:30 May 0.70% 1.40% 0.30% 0.70%  
                   
  06/14 Import Price Index YoY 05:30 May -5.90% -5.00% -5.70% -5.30%  
                   
  06/14 Retail Sales Advance MoM 05:30 May 0.30% 0.50% 1.30% -  
                   
  06/14 Business Inventories 07:00 Apr 0.20% 0.10% 0.40% 0.30%  
                   
  06/15 MBA Mortgage Applications 04:00 10 Jun - -2.40% 9.30% -  
                   
  06/15 PPI Final Demand MoM 05:30 May 0.30% 0.40% 0.20% -  
                   
  06/15 PPI Final Demand YoY 05:30 May -0.10% -0.10% 0.00% -  
                   
  06/15 Empire Manufacturing 05:30 Jun -4.90 6.01 -9.02 -  
                   
  06/15 Industrial Production MoM 06:15 May -0.20% -0.40% 0.70% 0.60%  
                   
  06/15 Capacity Utilization 06:15 May 75.20% 74.90% 75.40% 75.30%  
                   
  06/15 FOMC Rate Decision (Upper Bound) 11:00 15 Jun 0.50% - 0.50% -  
                   
  06/15 FOMC Rate Decision (Lower Bound) 11:00 15 Jun 0.25% - 0.25% -  
                   
  06/16 Initial Jobless Claims 05:30 11 Jun 270K - 264K -  
                   
  06/16 Continuing Claims 05:30 4 Jun 2140K - 2095K -  
                   
  06/16 Philadelphia Fed Business Outlook 05:30 Jun 1.00 - -1.80 -  
                   
  06/16 CPI MoM 05:30 May 0.30% - 0.40% -  
                   
  06/16 CPI YoY 05:30 May 1.10% - 1.10% -  
                   
  06/16 Real Avg Weekly Earnings YoY 05:30 May - - 1.30% 1.10%  
                   
  06/16 Bloomberg Consumer Comfort 06:45 12 Jun - - 43.50 -  
                   
  06/17 Housing Starts 05:30 May 1150K - 1172K -  
                   
  06/17 Housing Starts MoM 05:30 May -1.90% - 6.60% -  
                   
  06/17 Building Permits 05:30 May 1145K - 1116K 1130K  
                   
  06/17 Building Permits MoM 05:30 May 1.30% - 3.60% 4.90%  
                   
 
 
 
 
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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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