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Market Commentary


 
Today's Coupons
 
  10-Year Notes   100-17 (-08.5)  
 
  FN 3.5% Coupon   105-11.5 (-01)  
 
  Support   1.589%  
 
  Resistance   1.448%  
 
 
 
 
Today's Blurb Wednesday, August 3, 2016
 
 
         The UST 10-Year yield is at 1.560% this morning after closing at 1.550% yesterday. July ADP employment rose 179k versus 170k consensus, following a revised 176k rise in June, signaling a steady pace of job growth. MBA Mortgage Applications continued its downward trend, falling 3.50% last week after plummeting 11.20% in the previous week. Purchases declined 2.40% after falling 3.30% prior, and Refinances fell 4.20% after a 15.10% drop in the prior week. The US July Services PMI came in at 51.40 versus 50.90 prior and the US July Composite PMI reported at 51.80 versus 51.50 prior, both resulting in consecutive months of expansion. The ISM Non-Manufacturing Composite fell 55.50 from 56.50 prior, as business activity, employment, supplier deliveries, inventory change and prices paid all fell from prior. The curve has bear-flattened with UST 10-Year yield up 1 bp from prior.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  08/01 Markit US Manufacturing PMI 06:45 Jul F 52.90 52.90 52.90 -  
                   
  08/01 Construction Spending MoM 07:00 Jun 0.50% -0.60% -0.80% -0.10%  
                   
  08/01 ISM Manufacturing 07:00 Jul 53.00 52.60 53.20 -  
                   
  08/02 Personal Income 05:30 Jun 0.30% 0.20% 0.20% -  
                   
  08/02 Personal Spending 05:30 Jun 0.30% 0.40% 0.40% -  
                   
  08/02 PCE Deflator MoM 05:30 Jun 0.20% 0.10% 0.20% -  
                   
  08/02 PCE Deflator YoY 05:30 Jun 0.90% 0.90% 0.90% -  
                   
  08/02 PCE Core MoM 05:30 Jun 0.10% 0.10% 0.20% -  
                   
  08/02 PCE Core YoY 05:30 Jun 1.60% 1.60% 1.60% -  
                   
  08/03 MBA Mortgage Applications 04:00 29 Jul - -3.50% -11.20% -  
                   
  08/03 Markit US Services PMI 06:45 Jul F 51.00 51.40 50.90 -  
                   
  08/03 Markit US Composite PMI 06:45 Jul F - 51.80 51.50 -  
                   
  08/04 Challenger Job Cuts YoY 04:30 Jul - - -14.10% -  
                   
  08/04 Initial Jobless Claims 05:30 30 Jul 265K - 266K -  
                   
  08/04 Continuing Claims 05:30 23 Jul 2130K - 2139K -  
                   
  08/04 Bloomberg Consumer Comfort 06:45 31 Jul - - 42.90 -  
                   
  08/04 Factory Orders 07:00 Jun -1.90% - -1.00% -  
                   
  08/04 Durable Goods Orders 07:00 Jun F -4.00% - -4.00% -  
                   
  08/04 Durables Ex Transportation 07:00 Jun F -0.40% - -0.50% -  
                   
  08/05 Change in Nonfarm Payrolls 05:30 Jul 180K - 287K -  
                   
  08/05 Average Hourly Earnings MoM 05:30 Jul 0.20% - 0.10% -  
                   
  08/05 Average Hourly Earnings YoY 05:30 Jul 2.60% - 2.60% -  
                   
 
 
 
 
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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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