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Market Commentary

Market Commentary

Today's Coupons
  10-Year Notes   98-07 (+17.5) 2.328%  
  FN 3.5% Coupon   102-31.5 (+09.5)  
  Support   2.510%  
  Resistance   2.240%  
Today's Blurb Monday, July 06, 2015
        This week starts off with Non-Manufacturing ISM released this morning, followed by tomorrow's trade report and Friday's Wholesale Trade data. On Wednesday we also see the FOMC minutes from the Fed's June 16-17th meeting, although not much surprise is expected as the Fed already released their forecasts at the last post-meeting press conference. Time is running out for Greece after voting "No" to more austerity in Sunday's referendum. Greece owes 3.5 Billion Euros to the ECB due July 20th, and without a swift resolution Greece may run out of funds making an independent currency inevitable. Treasuries rose following the Greek voter's decision to opt against spending cuts demanded by their creditors with 10-Year notes trading as rich as 2.25%. The curve has reversed much of last week's steepening with 2s10s at -3.5 bps flatter.
This Week's Events
  07/06 ISM Non-Manufacturing Composite 07:00 June 56.40 56.00 55.70 -  
  07/07 Trade Balance 05:30 May -$42.75 Bn - -$40.90 Bn -  
  07/08 MBA Mortgage Applications 04:00 Jul 3 - - -4.70% -  
  07/09 Initial Jobless Claims 05:30 Jul 4 276K - 281K -  
  07/09 Continuing Claims 05:30 Jun 27 2252K - 2264K -  
  07/10 Wholesale Inventories MoM 07:00 May 0.30% - 0.40% -  
  07/10 Wholesale Trade Sales MoM 07:00 May 0.90% - 1.60% -  
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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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