Back to top

Market Commentary

Home
Market Commentary


 
Today's Coupons
 
  10-Year Notes   100-01 (+06.5)  
 
  FN 3.5% Coupon   99-10 (+02.5)  
 
  Support   3.111%  
 
  Resistance   2.759%  
 
 
 
 
Monday, June 25, 2018
 
 
Treasuries are higher across the curve this morning from Friday’s close. The UST 10-Year yield is currently at 2.867% after closing at 2.896% prior.

This week’s economic calendar kicked off with the Chicago Fed National Activity index for the month of May which dropped from an upwardly revised 0.42 reading level to -0.15, below expectations of a drop to 0.30 per consensus. We also received the New Home Sales report for May which rose 6.70% month-over-month to 689k from a downwardly revised 646k in April. There are several Fed Speeches on deck this week including Atlanta Fed President Bostic and Dallas Fed President Kaplan on Tuesday, Boston Fed President Rosengren on Wednesday, and St. Louis Fed President Bullard on Thursday.

The remainder of this week’s economic calendar consists of Tuesday’s June Richmond Fed Manufacturing Index and the June Conference Board Consumer Confidence, Wednesday’s May Wholesale Inventories and May Durable Goods reports, Thursday’s 1Q reports on Personal Consumption and GDP Price Index, and Friday’s Personal Income and Spending along with the PCE Deflator and Core for the month of May. A busy week in Treasury auctions will begin on Tuesday with $34 Billion 2-Year Notes, followed by $36 Billion 5-Year Notes on Wednesday, and lastly $30 Billion 7-Year Notes on Thursday.

The curve has bull-flattened with the UST 10-Year yield down 2.9 bps from prior closing.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  06/25 Chicago Fed Nat Activity Index 05:30 May 0.30 -0.15 0.34 0.42  
                   
  06/25 New Home Sales 07:00 May 667k 689k 662k 646k  
                   
  06/25 New Home Sales MoM 07:00 May 0.70% 6.70% -1.50% -3.70%  
                   
  06/25 Dallas Fed Manf. Activity 07:30 Jun 24.90 36.50 26.80 -  
                   
  06/26 S&P CoreLogic CS 20-City MoM SA 06:00 Apr 0.40% - 0.53% -  
                   
  06/26 S&P CoreLogic CS 20-City YoY NSA 06:00 Apr 6.80% - 6.79% -  
                   
  06/26 Richmond Fed Manufact. Index 07:00 Jun 15.00 - 16.00 -  
                   
  06/27 MBA Mortgage Applications 04:00 22 Jun - - 5.10% -  
                   
  06/27 Wholesale Inventories MoM 05:30 May P 0.20% - 0.10% -  
                   
  06/27 Durable Goods Orders 05:30 May P -1.00% - -1.60% -  
                   
  06/27 Durables Ex Transportation 05:30 May P 0.50% - 0.90% -  
                   
  06/27 Pending Home Sales MoM 07:00 May 0.50% - -1.30% -  
                   
  06/27 Pending Home Sales NSA YoY 07:00 May - - 0.40% -  
                   
  06/28 GDP Annualized QoQ 05:30 1Q T 2.20% - 2.20% -  
                   
  06/28 Initial Jobless Claims 05:30 23 Jun 220k - 218k -  
                   
  06/28 Continuing Claims 05:30 16 Jun 1718k - 1723k -  
                   
  06/28 Personal Consumption 05:30 1Q T 1.00% - 1.00% -  
                   
  06/28 GDP Price Index 05:30 1Q T 1.90% - 1.90% -  
                   
  06/28 Core PCE QoQ 05:30 1Q T - - 2.30% -  
                   
  06/28 Bloomberg Consumer Comfort 06:45 24 Jun - - 56.50 -  
                   
  06/28 Kansas City Fed Manf. Activity 08:00 Jun 26.00 - 29.00 -  
                   
  06/29 Personal Income 05:30 May 0.40% - 0.30% -  
                   
  06/29 Personal Spending 05:30 May 0.40% - 0.60% -  
                   
  06/29 PCE Deflator MoM 05:30 May 0.20% - 0.20% -  
                   
  06/29 PCE Deflator YoY 05:30 May 2.20% - 2.00% -  
                   
  06/29 PCE Core MoM 05:30 May 0.20% - 0.20% -  
                   
  06/29 PCE Core YoY 05:30 May 1.90% - 1.80% -  
                   
  06/29 U. of Mich. Sentiment 06:45 Jun F 99.10 - 99.30 -  
                   
 
 
 
 
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 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