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Market Commentary

Market Commentary

Today's Coupons
  10-Year Notes   97-29 (+31.5) 2.364%  
  FN 3.5% Coupon   102-23 (+16.5)  
  Support   2.510%  
  Resistance   2.240%  
Today's Blurb Monday, June 29, 2015
Greece Lightning!

    Unfortunately, we're not talking about Sandra Dee or John Travolta here, but about another EU country flirting with disaster and venturing into the unknown. News hit the tape on Sunday that negotiations between the Greek Government and its creditors broke down. EU Finance Ministers decided to let the 250 Billion Euro bailout expire at the end of this month, leaving it likely Greece will default on the 1.55 Billion Euro payment to the IMF due tomorrow.

    So now what? The next steps involve capital controls limiting the amount of cash withdrawals and transfers outside of Greece, a referendum, and ongoing talks with the EU.

    As a result of all this, Treasuries rallied sharply overnight but have lost some steam as more details regarding Greece emerge.  Currently, 10-Year notes are up 3/4 of a point and the stock market down low triple digits. Later this week, Non-Farm Payrolls will be released on Thursday due to the holiday shortened week.
This Week's Events
  06/29 Pending Home Sales MoM 07:00 May 1.00% 0.90% 3.40% 2.70%  
  06/29 Pending Home Sales NSA YoY 07:00 May 11.80% 8.30% 13.40% 12.60%  
  06/30 S&P/CaseShiller US HPI MoM 06:00 Apr - - 0.12% -  
  06/30 S&P/CaseShiller US HPI YoY 06:00 Apr - - 4.14% -  
  06/30 Consumer Confidence Index 07:00 Jun 97.30 - 95.40 -  
  07/01 ADP Employment Change 05:15 Jun 218K - 201K -  
  07/01 ISM Manufacturing 07:00 Jun 53.10 - 52.80 -  
  07/02 Change in Nonfarm Payrolls 05:30 Jun 230K - 280K -  
  07/02 Unemployement Rate 05:30 Jun 5.40% - 5.50% -  
  07/02 Initial Jobless Claims 05:30 Jun 27 270K - 271K -  
  07/03 Market Closed - - - - - -  
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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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