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Market Commentary


 
Today's Coupons
 
  10-Year Notes   99-06.5 (-15)  
 
  FN 3.5% Coupon   105-09 (-04.5)  
 
  Support   1.585%  
 
  Resistance   1.480%  
 
 
 
 
Today's Blurb Friday, August 19, 2016
 
 
   The UST 10-Year yield is at 1.580% this morning after closing at 1.540% yesterday.
 
   The bond market traded very lightly yesterday following Wednesday's FOMC minutes that signaled the status quo for Fed policy. This morning almost all asset classes are lower on fears that Italy may have a banking crisis on the horizon. There is no economic data this morning.
 
  Next week we have the CFNAI on Monday, New Home Sales and Redbook on Tuesday, Existing home sales, Mortgage Applications and FHFA House Price Index on Wednesday, Jobless Claims and Durable Goods on Thursday and GDP on Friday. Most important will be the Jackson Hole Conference which starts on Thursday August 25th and runs through the weekend. Central bankers from all over the world will be joining Fed members to discuss the future of US rate policy. Janet Yellen is expected to give a speech on Friday.
 
  The curve has bear steepened by 1.5 bps with UST 10-Year yield up 3 bps from prior.
 
  Have A Splendid Weekend!
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  08/15 Empire Manufacturing 05:30 Aug 2.00 -4.21 0.55 -  
                   
  08/15 NAHB Housing Market Index 07:00 Aug 60.00 - 59.00 -  
                   
  08/16 Housing Starts 05:30 Jul 1180K 1211K 1189K 1186K  
                   
  08/16 Housing Starts MoM 05:30 Jul -0.80% 2.10% 4.80% 5.10%  
                   
  08/16 Building Permits 05:30 Jul 1160K 1152K 1153K -  
                   
  08/16 Building Permits MoM 05:30 Jul 0.60% -0.10% 1.50% -  
                   
  08/16 CPI MoM 05:30 Jul 0.00% 0.00% 0.20% -  
                   
  08/16 CPI YoY 05:30 Jul 0.90% 0.80% 1.00% -  
                   
  08/16 Real Avg Weekly Earnings YoY 05:30 Jul - 1.40% 1.20% -  
                   
  08/16 Industrial Production MoM 06:15 Jul 0.30% 0.70% 0.60% 0.40%  
                   
  08/16 Capacity Utilization 06:15 Jul 75.60% 75.90% 75.40% -  
                   
  08/17 MBA Mortgage Applications 04:00 12 Aug - -4.00% 7.10% -  
                   
  08/17 FOMC Meeting Minutes 11:00 27 Jul - - - -  
                   
  08/18 Initial Jobless Claims 05:30 13 Aug 265K 262K 266K -  
                   
  08/18 Continuing Claims 05:30 6 Aug 2145K 2175K 2155K 2160K  
                   
  08/18 Philadelphia Fed Business Outlook 05:30 Aug 2.00 2.00 -2.90 -  
                   
  08/18 Bloomberg Consumer Comfort 06:45 14 Aug - - 41.80 -  
                   
  08/18 Leading Index 07:00 Jul 0.30% - 0.30% -  
                   
  08/19 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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