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Market Commentary

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Market Commentary


 
Today's Coupons
 
  10-Year Notes   102-10 (+00.5) 1.373%  
 
  FN 3.5% Coupon   105-23 (-01)  
 
  Support   1.646%  
 
  Resistance   1.423%  
 
 
 
 
Today's Blurb Wednesday, July 6, 2016
 
 
       US Treasuries continued to benefit from the growing uncertainty as the 10 year reached the unprecedented level, renewing a record low, earlier this morning. The Trade Deficit widened $3.70 billion in May to $41.10 billion from the prior vs. $40.00 billion deficit consensus, marking the largest growth in gap since August 2015. MBA Mortgage Applications rose 14.20% last week with both purchases and refinances increasing 4.30% and 20.80%, respectively. The ISM Non-Manufacturing index jumped 3.60 to 56.50 vs. 53.30 consensus, signaling a healthy US economy. With Brexit leaving more potential for global economic turmoil, clouding further the chance of rate hike this year, the Fed releases minutes from June FOMC meeting at 11:00 AM (PT). The curve has bear flattened with UST 10 Year yield remaining flat from prior 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 - 14.20% -2.60% -  
                   
  07/06 Markit US Services PMI 06:45 Jun F 51.30 51.40 51.30 -  
                   
  07/06 Markit US Composite PMI 06:45 Jun F - 51.20 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 267K - 268K -  
                   
  07/07 Continuing Claims 05:30 25 Jun 2120K - 2120K -  
                   
  07/07 Bloomberg Consumer Comfort 06:45 3 Jul - - 43.90 -  
                   
  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 2.70% - 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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