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Market Commentary


 
Today's Coupons
 
  10-Year Notes   99-18.5 (+09)  
 
  FN 3.5% Coupon   105-14 (+02)  
 
  Support   1.599%  
 
  Resistance   1.524%  
 
 
 
 
Today's Blurb Friday, August 26, 2016
 
 
    The UST 10-Year yield is at 1.540% this morning after closing at 1.580% yesterday.
 
    "I believe the case for an increase in the federal funds rate has strengthened in recent months" - Janet Yellen
 
   The much anticipated Jackson Hole speech has come and gone and while traders are still digesting the statement, it looks like market expectations for future rate hikes remains largely unchanged. She added that the Fed continued to see improvement in the economy and labor market as well as low inflation. The Fed's next policy meeting is from September 20-21.
 
    For Economic data today we had GDP Annualized QoQ at 1.10% vs. 1.10%, Wholesale Inventories MoM at 0.00% vs. 0.10% expected and Personal Consumption at 4.40% vs. 4.20% expected. The next big data point for the market will be next Friday's Non Farm Payrolls report.
 
    The curve has bull flattened by 2 bps with UST 10-Year yield down 4 bps from prior.
 
   Have A Majestic Weekend!
 
 
   
 
   
 
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 261K 262K -  
                   
  08/25 Continuing Claims 05:30 13 Aug 2155K 2145K 2175K -  
                   
  08/25 Durable Goods Orders 05:30 Jul P 3.40% 4.40% -3.90% -4.20%  
                   
  08/25 Durables Ex Transportation 05:30 Jul P 0.40% 1.50% -0.40% -0.30%  
                   
  08/25 Markit US Services PMI 06:45 Aug P 51.80 50.90 51.40 -  
                   
  08/25 Markit US Composite PMI 06:45 Aug P - 51.50 51.80 -  
                   
  08/25 Bloomberg Consumer Comfort 06:45 21 Aug - 45.30 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% 4.40% 4.20% -  
                   
  08/26 GDP Price Index 05:30 2Q S 2.20% 2.30% 2.20% -  
                   
  08/26 Core PCE QoQ 05:30 2Q S 1.70% 1.80% 1.70% -  
                   
  08/26 U. of Mich. Sentiment 07:00 Aug F 90.80 89.80 90.40 -  
                   
 
 
 
 
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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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