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Market Commentary


 
Today's Coupons
 
  10-Year Notes   100-15 (-05) 1.573%  
 
  FN 3.5% Coupon   105-08 (-02.5)  
 
  Support   1.622%  
 
  Resistance   1.512%  
 
 
 
 
Today's Blurb Friday, July 22, 2016
 
 
           Yesterday's economic data consisted of encouraging reports as the initial jobless claims and existing home sales were both better than expected. The positive trend of labor market conditions continued with lower-than-expected numbers for initial jobless claims. Continued economic stability seems to have also assisted with the increase in sales of existing homes in June. The UST 10-Year yield hovered around 1.550% yesterday before closing at 1.560%, but has inclined to 1.580% this morning. The Markit Economics for the July Flash Manufacturing PMI index rose to 52.90 from 51.30 in June, resulting in a second consecutive month of expansion. The FOMC Rate Decision is scheduled to be released next Wednesday, which requires to be closely monitored, though a rate hike seems unlikely as of this morning. The curve has bear steepened with the UST 10-Year yield up 2 bps from prior.
Have A Great Weekend!
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  07/18 NAHB Housing Market Index 07:00 Jul 60.00 59.00 60.00 -  
                   
  07/19 Housing Starts 05:30 Jun 1165K 1189K 1164K 1135K  
                   
  07/19 Housing Starts MoM 05:30 Jun 0.20% 4.80% -0.30% -1.70%  
                   
  07/19 Building Permits 05:30 Jun 1150K 1153K 1138K 1136K  
                   
  07/19 Building Permits MoM 05:30 Jun 1.20% 1.50% 0.70% 0.50%  
                   
  07/20 MBA Mortgage Applications 04:00 15 Jul - -1.30% 7.20% -  
                   
  07/21 Chicago Fed Nat Activity Index 05:30 Jun -0.20 0.16 -0.51 -0.56  
                   
  07/21 Initial Jobless Claims 05:30 16 Jul 265K 253K 254K -  
                   
  07/21 Continuing Claims 05:30 9 Jul 2137K 2128K 2149K 2153K  
                   
  07/21 Philadelphia Fed Business Outlook 05:30 Jul 4.50 -2.90 4.70 -  
                   
  07/21 FHFA House Price Index MoM 06:00 May 0.40% 0.20% 0.20% 0.30%  
                   
  07/21 Bloomberg Consumer Comfort 06:45 17 Jul - 42.90 44.70 -  
                   
  07/21 Existing Home Sales 07:00 Jun 5.48 M 5.57 M 5.53 M 5.51 M  
                   
  07/21 Existing Home Sales MoM 07:00 Jun -0.90% 1.10% 1.80% 1.50%  
                   
  07/21 Leading Index 07:00 Jun 0.20% 0.30% -0.20% -  
                   
  07/22 Markit US Manufacturing PMI 06:45 Jul P 51.50 52.90 51.30 -  
                   
 
 
 
 
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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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