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Market Commentary


 
Today's Coupons
 
  10-Year Notes   100-31 (-01)  
 
  FN 3.5% Coupon   102-29 (00)  
 
  Support   2.393%  
 
  Resistance   2.257%  
 
 
 
 
Wednesday, July 19, 2017
 
 
Treasuries are nearly unchanged across the curve this morning from yesterday’s close. The UST 10-Year yield is currently at 2.257% after closing at 2.260% prior.

This morning we received the June Housing Starts and Building Permits data, which both came in stronger than expected. Housing Starts rose 8.30% to 1215k versus an expected 6.20% increase of 1160k per consensus, while Building Permits rose 7.40% to 1254k versus an expected 2.80% increase of 1201k per consensus. May Housing Starts were initially released as 1092k but was revised upwardly to 1122k. May Building Permits were left unrevised as 1168k.

MBA Mortgage Applications for the week ending on July 14th rose 6.30% after falling 7.30% the week prior. Purchase applications increased 1.10% after dropping 2.50% the week prior, and refinancing activities reversed its course by rising 13.00% after falling 13.00% the week prior.

The curve has bull-flattened with the UST 10-Year down 0.3 bp from prior closing.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  07/17 Empire Manufacturing 05:30 Jul 15.00 9.80 19.80 -  
                   
  07/18 Import Price Index MoM 05:30 Jun -0.20% -0.20% -0.30% -0.10%  
                   
  07/18 Import Price Index YoY 05:30 Jun 1.30% 1.50% 2.10% 2.30%  
                   
  07/18 Export Price Index MoM 05:30 Jun 0.00% -0.20% -0.70% -0.50%  
                   
  07/18 Export Price Index YoY 05:30 Jun - 0.60% 1.40% 1.50%  
                   
  07/18 NAHB Housing Market Index 07:00 Jul 67.00 64.00 67.00 66.00  
                   
  07/18 Total Net TIC Flows 13:00 May - $57.30b $65.80b $74.40b  
                   
  07/18 Net Long-term TIC Flows 13:00 May - $91.90b $1.80b $9.70b  
                   
  07/19 MBA Mortgage Applications 04:00 14 Jul - 6.30% -7.40% -  
                   
  07/19 Housing Starts 05:30 Jun 1160k 1215k 1092k 1122k  
                   
  07/19 Housing Starts MoM 05:30 Jun 6.20% 8.30% -5.50% -2.80%  
                   
  07/19 Building Permits 05:30 Jun 1201k 1254k 1168k -  
                   
  07/19 Building Permits MoM 05:30 Jun 2.80% 7.40% -4.90% -  
                   
  07/20 Initial Jobless Claims 05:30 15 Jul 245k - 247k -  
                   
  07/20 Continuing Claims 05:30 8 Jul 1949k - 1945k -  
                   
  07/20 Philadelphia Fed Business Outlook 05:30 Jul 23.70 - 27.60 -  
                   
  07/20 Bloomberg Consumer Comfort 06:45 16 Jul - - 47.00 -  
                   
  07/20 Leading Index 07:00 Jun 0.40% - 0.30% -  
                   
  07/21 No Data - - - - - -  
                   
 
 
 
 
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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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