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Market Commentary


Monday
August 25, 2014
10-YEAR NOTES   99-26.5 (+02)
2.394%
FN 3.5% COUPON   102-21 (+02.5)
SUPPORT   2.660%
RESISTANCE   2.200%
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This week we get data on Durable Goods, House Prices, GDP, PMI and Income with auctions for the 2-Year, 5-Year, and 7-Year notes. The Chicago Fed National Activity Index slowed in June to +0.12 following a revised +0.16 in May, and for July the Index jumped +0.39 (consensus +0.20). The Markit PMI Services Index for July posted well above the break-even (50) at 60.8 and the August release is expected to decline, albeit still above the break-even level, to 58. New Home Sales came in at 406K in June following May’s -62K downward revision to 442K and for July is expected to post 430K (+5.9% MoM). The Dallas Fed Index edged up in July from 11.4 to 12.7 and for August consensus is for 12.5. Treasuries hover little changed from Friday’s 2:00 PM (PDT) close.

This Week's Events:

DATE EVENTS TIME (PDT) PERIOD SURVEY ACTUAL PRIOR REVISED
08/25 Chicago Fed 05:30 July 0.20 0.39 0.12 0.21
08/25 Markit Services PMI 06:45 August P 58.0 - 60.8 -
08/25 New Home Sales 07:00 July 430 K - 406 K -
08/25 New Home Sales MoM 07:00 July 5.9% - -8.1% -
08/25 Dallas Fed Manufacturing Activity 07:30 August 12.5 - 12.7 -
08/26 Durable Goods Orders 05:30 July 8.0% - 0.7% 1.7%
08/26 FHFA House Price Index MoM 06:00 June 0.3% - 0.4% -
08/26 S&P CaseShiller Home Price Index 06:00 June 172.84 - 170.64 -
08/26 Richmond Fed Manufacturing Index 07:00 August 6 - 7 -
08/27 MBA Mortgage Applications 04:00 August 22 - - 1.4% -
08/28 Jobless Claims 05:30 August 23 300 K - 298 K -
08/28 GDP Annualized QoQ 05:30 2Q S 3.9% - 4.0% -
08/28 Continuing Claims 05:30 August 16 2496 K - 2500 K -
08/28 Personal Consumption 05:30 2Q S 2.4% - 2.5% -
08/28 Pending Home Sales MoM 07:00 July 0.5% - -1.1% -
08/28 Pending Home Sales YoY 07:00 July -3.9% - -4.5% -
08/28 Kansas City Fed 08:00 August 7 - 9 -
08/29 Personal Income 05:30 July 0.3% - 0.4% -
08/29 Personal Spending 05:30 July 0.1% - 0.4% -

 

 

 
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This information is provided solely for informational use and is not intended as a trading or investment advice in any manner whatsoever. Sun West Mortgage Company, Inc. is not liscensed or registered broker or dealer and cannot provide investment strategies or recommendations. This information is provided to 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, price, guidelines, fees, costs, terms and conditions are subject to change without notice.