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Market Commentary


 
Today's Coupons
 
  10-Year Notes   99-14 (-02.5)  
 
  FN 3.5% Coupon   105-11 (-0.5)  
 
  Support   1.599%  
 
  Resistance   1.522%  
 
 
 
 
Today's Blurb Wednesday, August 24, 2016
 
 
   The UST 10-Year yield is at 1.560% this morning after closing at 1.550% yesterday.
 
   10-Year Treasury rose 1 bp yesterday and traded within a very tight range. Janet Yellen's Jackson Hole speech on Friday should give the market more guidance on Fed rate policy going forward.
 
  Economic data this morning centers around housing. MBA Mortgage Applications came in at -2.10% week over week. FHFA House Price Index came in at 0.20% vs. 0.30% expected. Existing Home Sales were 5.39 Million vs. 5.51 Million expected, a change of -3.20% month over month.
 
  Later this week we have Jobless Claims and Durable Goods on Thursday and GDP on Friday. 
 
  The curve has bear steepened by 0.5 bp with UST 10-Year yield up 1 bp from prior.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  08/22 Chicago Fed Nat Activity Index 05:30 Jul 0.20 0.27 0.16 0.05  
                   
  08/23 Markit US Manufacturing PMI 06:45 Aug P 52.60 52.10 52.90 -  
                   
  08/23 New Home Sales 07:00 Jul 580K 654K 592K 582K  
                   
  08/23 New Home Sales MoM 07:00 Jul -2.00% 12.40% 3.50% 1.70%  
                   
  08/24 MBA Mortgage Applications 04:00 19 Aug - -2.10% -4.00% -  
                   
  08/24 FHFA House Price Index MoM 06:00 Jun 0.30% 0.20% 0.20% -  
                   
  08/24 Existing Home Sales 07:00 Jul 5.51 M 5.39 M 5.57 M -  
                   
  08/24 Existing Home Sales MoM 07:00 Jul -1.10% -3.20% 1.10% -  
                   
  08/25 Initial Jobless Claims 05:30 20 Aug 265K - 262K -  
                   
  08/25 Continuing Claims 05:30 13 Aug 2155K - 2175K -  
                   
  08/25 Durable Goods Orders 05:30 Jul P 3.40% - -3.90% -  
                   
  08/25 Durables Ex Transportation 05:30 Jul P 0.40% - -0.40% -  
                   
  08/25 Markit US Services PMI 06:45 Aug P 51.80 - 51.40 -  
                   
  08/25 Markit US Composite PMI 06:45 Aug P - - 51.80 -  
                   
  08/25 Bloomberg Consumer Comfort 06:45 21 Aug - - 43.60 -  
                   
  08/25 Kansas City Fed Manf. Activity 08:00 Aug -2.00 - -6.00 -  
                   
  08/26 Personal Consumption 05:30 2Q S 4.20% - 4.20% -  
                   
  08/26 GDP Price Index 05:30 2Q S - - 2.20% -  
                   
  08/26 Core PCE QoQ 05:30 2Q S - - 1.70% -  
                   
  08/26 U. of Mich. Sentiment 07:00 Aug F - - - -  
                   
 
 
 
 
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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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