Back to top

Market Commentary

Home
Market Commentary


 
Today's Coupons
 
  10-Year Notes   100-14 (+10)  
 
  FN 3.5% Coupon   102-20 (+07)  
 
  Support   2.395%  
 
  Resistance   2.305%  
 
 
 
 
Wednesday, July 12, 2017
 
 
Treasuries are rallying across the curve this morning after the release of Fed Chairwoman Yellen's congressional testimony. The UST 10-Year yield is currently at 2.314% after closing at 2.361% prior.

Fed Chairwoman Yellen will begin her two-day congressional testimony at 7:00 AM (PT) this morning before a House panel. Her prepared statement was released at 5:30 AM (PT) where she stated that the US economy should continue to expand over the next few years, allowing central banks to keep raising interest rates, and also reiterated that the Fed is monitoring the recent low inflation reading. Today's testimony will be followed by a Q&A session with lawmakers.

Our economic calendar opened up with MBA Mortgage Applications for the week ending on July 7th, which fell 7.40% after rising 1.40% the week prior. Purchase applications fell 2.50% after rising 3.10% the week prior, and refinancing applications fell 13.00% after dropping 0.40% the week prior. Treasury will auction $20 Billion in re-opened 10-Year notes at 10:00 AM (PT). Lastly, the latest US Federal Reserve Beige Book will be released later today at 11:00 AM (PT).

The curve has bull-flattened with the UST 10-Year down 4.7 bps from prior closing.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  07/10 Labor Market Conditions Index Change 07:00 Jun 2.50 1.50 2.30 3.30  
                   
  07/10 Consumer Credit 12:00 May $13.500b $18.410b $8.197b $12.929b  
                   
  07/11 NFIB Small Business Optimism 03:00 Jun 104.40 103.60 104.50 -  
                   
  07/11 JOLTS Job Openings 07:00 May 5950 5666 6044 5967  
                   
  07/11 Wholesale Trade Sales MoM 07:00 May - -0.50% -0.40% -0.30%  
                   
  07/11 Wholesale Inventories MoM 07:00 May F 0.30% 0.40% 0.30% -  
                   
  07/12 MBA Mortgage Applications 04:00 7 Jul - -7.40% 1.40% -  
                   
  07/12 U.S. Federal Reserve Releases Beige Book 11:00 - - - - -  
                   
  07/13 PPI Final Demand MoM 05:30 Jun 0.00% - 0.00% -  
                   
  07/13 PPI Final Demand YoY 05:30 Jun 1.90% - 2.40% -  
                   
  07/13 Initial Jobless Claims 05:30 8 Jul 245k - 248k -  
                   
  07/13 Continuing Claims 05:30 1 Jul 1950k - 1956k -  
                   
  07/13 Bloomberg Consumer Comfort 06:45 9 Jul - - 48.50 -  
                   
  07/13 Monthly Budget Statement 11:00 Jun -$38.00b - - -  
                   
  07/14 CPI MoM 05:30 Jun 0.10% - -0.10% -  
                   
  07/14 CPI YoY 05:30 Jun 1.70% - 1.90% -  
                   
  07/14 Retail Sales Advance MoM 05:30 Jun - - -0.30% -  
                   
  07/14 Industrial Production MoM 06:15 Jun - - 0.00% -  
                   
  07/14 Capacity Utilization 06:15 Jun - - 76.60% -  
                   
  07/14 U. of Mich. Sentiment 07:00 Jul P - - - -  
                   
  07/14 Business Inventories 07:00 May - - -0.20% -  
                   
 
 
 
 
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  
 
©2017 Sun West Mortgage Company, Inc. All Rights Reserved