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Market Commentary


 
Today's Coupons
 
  10-Year Notes   97-18.5 (-01) 2.403%  
 
  FN 3.5% Coupon   102-22 (+01)  
 
  Support   2.480%  
 
  Resistance   2.190%  
 
 
 
 
Today's Blurb Wednesday, July 15, 2015
 
 
        MBA Mortgage Applications fell -1.9% last week after rising +4.6% in the week prior. Purchases plummeted -7.5% vs. +6.6% prior, Refinancing rose +3.7% vs. +2.7% prior, and the average interest rate for a 30-Year Conventional loan remained at 4.23% for the second consecutive week. The Producer Price Index rose +0.4% in June, down -0.7% YoY. Excluding food and energy the Index is up +0.3%, up +0.8% YoY. The rise in June Producer Prices reflected a +0.7% gain in good prices, a +0.6% gain in food prices, and a +2.4% rise in energy prices. Service prices rose +0.3% with trade service prices up +0.2% and transportation/warehouse prices up +0.6%. Fed Chair Janet Yellen’s statement for the House Financial Services Committee was released this morning, ahead of her appearance, in which she says she expects the U.S. economy to continue strengthening in 2015 and put the central bank on track for a 2015 rate hike. Treasuries are off to a choppy start today given the rise in Producer Prices and Yellen’s latest remarks about a rate hike lift off later this year. The curve has bear flattened with 2s10s down -2.4 bps.
 
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  07/13 No Data - - - - - -  
                   
  07/14 Retail Sales Advance MoM 05:30 June 0.30% -0.30% 1.20% 1.00%  
                   
  07/14 Import Price Index MoM 05:30 June 0.10% -0.10% 1.30% 1.20%  
                   
  07/14 Import Price Index YoY 05:30 June -9.80% -10.00% -9.60%    
                   
  07/15 MBA Mortgage Applications 04:00 July 10 - -1.90% 4.60% -  
                   
  07/15 PPI Final Demand MoM 05:30 June 0.20% 0.40% 0.50% -  
                   
  07/15 PPI Final Demand YoY 05:30 June -0.90% -0.70% -1.10% -  
                   
  07/15 Empire Manufacturing 05:30 July 3.00 3.86 -1.98 -  
                   
  07/15 Industrial Production MoM 06:15 June 0.20% 0.30% -0.20% -  
                   
  07/16 Initial Jobless Claims 05:30 July 11 285K - 297K -  
                   
  07/16 Continuing Claims 05:30 July 4 2300K - 2334K -  
                   
  07/16 NAHB Housing Market Index 07:00 July 59 - 59 -  
                   
  07/17 Housing Starts 05:30 June 1106K - 1036K -  
                   
  07/17 Housing Starts MoM 05:30 June 6.80% - -11.10% -  
                   
  07/17 Building Permits 05:30 June 1150K - 1275K 1250K  
                   
  07/17 Building Permits MoM 05:30 June -8.00% - 11.80% 9.60%  
                   
  07/17 CPI MoM 05:30 June 0.30% - 0.40% -  
                   
  07/17 CPI YoY 05:30 June 0.10% - 0.00% -  
                   
 
 
 
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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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