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Market Commentary


 
Today's Coupons
 
  10-Year Notes   100-10 (+102)  
 
  FN 3.5% Coupon   103-13 (+04.5)  
 
  Support   2.287%  
 
  Resistance   2.212%  
 
 
 
 
Thursday, August 10, 2017
 
 
Treasuries are slightly higher across the curve this morning from yesterday's close.? The UST 10-Year yield is currently at 2.232% after closing at 2.247% prior.

This morning we received the Initial Jobless Claims for the week ending on August 5th which rose 3k to 244k from an upwardly revised 241k the week prior. Continuing Claims for the week ending on July 29th fell 16k to 1951k from a downwardly revised 1967k the week prior. We also received the PPI Final Demand for July, which declined 0.10% after rising 0.10% in June; consensus called for another 0.10% increase so the data came in below expectations. July PPI Excluding Food and Energy also fell 0.10% after rising 0.10% in June. PPI Final Demand YoY rose below expectations at 1.90% versus a 2.20% increase per consensus. PPI Excluding Food and Energy YoY also rose below expectations at 1.80% versus a 2.10% rise per consensus.

New York Fed President William Dudley will hold an economic press briefing on regional wage inequality this morning at 7:00 AM (PT). Then later today at 10:00 AM (PT), Treasury will auction $15 Billion 30-Year Bonds.

The curve has bull-flattened with the UST 10-Year down 1.5 bps from prior closing.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  08/07 Consumer Credit 12:00 Jun $15.750b $12.397b $18.410b $18.285b  
                   
  08/08 NFIB Small Business Optimism 03:00 Jul 103.50 105.20 103.60 -  
                   
  08/08 JOLTS Job Openings 07:00 Jun 5750 6163 5666 5702  
                   
  08/09 MBA Mortgage Applications 04:00 4 Aug - 3.00% -2.80% -  
                   
  08/09 Nonfarm Productivity 05:30 2Q P 0.70% 0.90% 0.00% 0.10%  
                   
  08/09 Unit Labor Costs 05:30 2Q P 1.10% 0.60% 2.20% 5.40%  
                   
  08/09 Wholesale Trade Sales MoM 07:00 Jun 0.00% 0.70% -0.50% -0.10%  
                   
  08/09 Wholesale Inventories MoM 07:00 Jun F 0.60% 0.70% 0.60% -  
                   
  08/10 Initial Jobless Claims 05:30 5 Aug 240k 244k 240k 241k  
                   
  08/10 Continuing Claims 05:30 29 Jul 1960k 1951k 1968k 1967k  
                   
  08/10 PPI Final Demand MoM 05:30 Jul 0.10% -0.10% 0.10% -  
                   
  08/10 PPI Final Demand YoY 05:30 Jul 2.20% 1.90% 2.00% -  
                   
  08/10 Bloomberg Consumer Comfort 06:45 6 Aug - 51.40 49.60 -  
                   
  08/10 Monthly Budget Statement 11:00 Jul -$54.00b - -$90.20b -  
                   
  08/11 CPI MoM 05:30 Jul 0.20% - 0.00% -  
                   
  08/11 CPI YoY 05:30 Jul 1.80% - 1.60% -  
                   
 
 
 
 
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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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