Back to top

Market Commentary

Home
Market Commentary


 
Today's Coupons
 
  10-Year Notes   100-09 (-0.5)  
 
  FN 3.5% Coupon   99-16.5 (00)  
 
  Support   3.111%  
 
  Resistance   2.759%  
 
 
 
 
Friday, June 29, 2018
 
 
Treasuries are lower across the curve this morning from yesterday’s close. The UST 10-Year yield is currently at 2.846% after closing at 2.837% prior.

Yesterday Treasuries inched lower as U.S. Stocks edged higher on rebound in technology. Stocks extended its rally overnight as global markets looked to remain upbeat heading into the quarter’s close despite the ongoing trade tensions that have recently rattled the markets. Treasuries moved lower this morning after strong inflation reports reached the Fed’s inflation target for the first time in six years. The May PCE Core rose 0.20% month-over-month as expected, which was enough to raise the year-over-year rate from 1.80% prior to 2.00%. PCE Deflator also rose in line with expectations at 0.20%, which brought up the year-over-year rate to 2.30% from 2.00% prior.

May Personal Income rose 0.40% month-over-month as expected following a downwardly revised 0.20% increase in April. Personal Spending came in lower than expected as it rose just 0.20% in May after a downwardly revised 0.50% increase in April; consensus called for a 0.40% increase month-over-month. We also received the June Chicago Purchasing Manager print which came in higher than expected at 64.10 versus a reading level of 60.00 per consensus. Lastly, we received the June University of Michigan Consumer Confidence which pulled back down to 98.20 from 99.30 prior; consensus called for a slight drop to 99.00.

The curve has bear-flattened with the UST 10-Year yield up 0.9 bp from prior closing.

Have A Wonderful Weekend!
 
 
   
 
   
 
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% 0.20% 0.53% 0.40%  
                   
  06/26 S&P CoreLogic CS 20-City YoY NSA 06:00 Apr 6.80% 6.56% 6.79% 6.73%  
                   
  06/26 Richmond Fed Manufact. Index 07:00 Jun 15.00 20.00 16.00 -  
                   
  06/27 MBA Mortgage Applications 04:00 22 Jun - -4.90% 5.10% -  
                   
  06/27 Wholesale Inventories MoM 05:30 May P 0.20% 0.50% 0.10% -  
                   
  06/27 Durable Goods Orders 05:30 May P -1.00% -0.60% -1.60% -1.00%  
                   
  06/27 Durables Ex Transportation 05:30 May P 0.50% -0.30% 0.90% 1.90%  
                   
  06/27 Pending Home Sales MoM 07:00 May 0.50% -0.50% -1.30% -  
                   
  06/27 Pending Home Sales NSA YoY 07:00 May - -2.80% 0.40% 0.30%  
                   
  06/28 GDP Annualized QoQ 05:30 1Q T 2.20% 2.00% 2.20% -  
                   
  06/28 Initial Jobless Claims 05:30 23 Jun 220k 227k 218k -  
                   
  06/28 Continuing Claims 05:30 16 Jun 1717k 1705k 1723k 1726k  
                   
  06/28 Personal Consumption 05:30 1Q T 1.00% 0.90% 1.00% -  
                   
  06/28 GDP Price Index 05:30 1Q T 1.90% 2.20% 1.90% -  
                   
  06/28 Core PCE QoQ 05:30 1Q T - 2.30% 2.30% -  
                   
  06/28 Bloomberg Consumer Comfort 06:45 24 Jun - 57.30 56.50 -  
                   
  06/28 Kansas City Fed Manf. Activity 08:00 Jun 26.00 28.00 29.00 -  
                   
  06/29 Personal Income 05:30 May 0.40% 0.40% 0.30% 0.20%  
                   
  06/29 Personal Spending 05:30 May 0.40% 0.20% 0.60% 0.50%  
                   
  06/29 PCE Deflator MoM 05:30 May 0.20% 0.20% 0.20% -  
                   
  06/29 PCE Deflator YoY 05:30 May 2.20% 2.30% 2.00% -  
                   
  06/29 PCE Core MoM 05:30 May 0.20% 0.20% 0.20% -  
                   
  06/29 PCE Core YoY 05:30 May 1.90% 2.00% 1.80% -  
                   
  06/29 U. of Mich. Sentiment 06:45 Jun F 99.00 98.20 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