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Market Commentary

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Market Commentary


 
Today's Coupons
 
  10-Year Notes   102-14 (+28.5) 1.360%  
 
  FN 3.5% Coupon   105-25 (+07.5)  
 
  Support   1.659%  
 
  Resistance   1.465%  
 
 
 
 
Today's Blurb Monday, July 2, 2016
 
 
       Both 10-Year and 30-Year UST yields fell to record lows this morning as the demand of safe haven assets rose due to the growing pool of negative-yielding debt worldwide. Factory Orders fell sharply by 1.00% vs. +1.80% prior revised and Durable Goods orders falling 2.30% vs. -2.20% prior. Tomorrow we get MBA Mortgage Applications, Trade Balance, PMI Services Index, ISM Non-Manufacturing Index and FOMC Minutes details followed by ADP Employment Report and Jobless claims on Thursday and Payrolls data on Friday. This week's focus should be on how the payroll data will come out on this Friday after the very disappointing number in prior month as it will shed light on the direction of rate hike for the remaining half of the year. The curve has bull flattened with UST 10-Year yield down 6 bps from Friday's close.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  07/04 No Data - - - - - -  
                   
  07/05 ISM New York 06:45 Jun - 45.40 37.20 -  
                   
  07/05 Factory Orders 07:00 May -0.80% -1.00% 1.90% 1.80%  
                   
  07/05 Durable Goods Orders 07:00 May F -2.20% -2.30% -2.20% -  
                   
  07/05 Durables Ex Transportation 07:00 May F -0.30% -0.30% -0.30% -  
                   
  07/06 MBA Mortgage Applications 04:00 1 Jul - - -2.60% -  
                   
  07/06 Markit US Services PMI 06:45 Jun F 51.30 - 51.30 -  
                   
  07/06 Markit US Composite PMI 06:45 Jun F - - 51.20 -  
                   
  07/06 FOMC Meeting Minutes 11:00 15 Jun - - - -  
                   
  07/07 Challenger Job Cuts YoY 04:30 Jun - - -26.50% -  
                   
  07/07 ADP Employment Change 05:15 Jun 160K - 173K -  
                   
  07/07 Initial Jobless Claims 05:30 2 Jul 268K - 268K -  
                   
  07/07 Continuing Claims 05:30 25 Jun 2120K - 2120K -  
                   
  07/07 Bloomberg Consumer Comfort 06:45 3 Jul - - - -  
                   
  07/08 Change in Nonfarm Payrolls 05:30 Jun 180K - 38K -  
                   
  07/08 Unemployment Rate 05:30 Jun 4.80% - 4.70% -  
                   
  07/08 Average Hourly Earnings MoM 05:30 Jun 0.20% - 0.20% -  
                   
  07/08 Average Hourly Earnings YoY 05:30 Jun - - 2.50% -  
                   
  07/08 Underemployment Rate 07:00 Jun - - 9.70% -  
                   
 
 
 
 
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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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