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Market Commentary

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Market Commentary


 
Today's Coupons
 
  10-Year Notes   99-03.5 (+10.5)  
 
  FN 3.5% Coupon   105-08.5 (+02.5)  
 
  Support   1.631%  
 
  Resistance   1.529%  
 
 
 
 
Monday, August 29, 2016
 
 
    The UST 10-Year yield is at 1.600% this morning after closing at 1.630% on Friday.
 
   Federal Reserve Chair Janet Yellen’s speech on Friday was viewed as hawkish, mimicking the same views as several FOMC members shared last week regarding the US economy.
 
  Today’s economic data were highlighted by July’s Personal Income and Personal Spending. Personal Income increased by 0.40% vs. 0.30% prior revised. Personal Spending also rose for the fourth consecutive month, increasing by 0.30% ($42.00 billion).
 
    The remainder of this week’s economic calendar includes Tuesday’s Consumer Confidence data, Wednesday’s MBA Mortgage Applications and ADP Employment Change, Thursday’s Jobless Claims and Non-Farm Productivity, and Friday’s Trade Balance data and Unemployment Rate report.
 
    The curve has bull-flattened with UST 10-Year yield down 3 bps from prior close.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  08/29 Personal Income 05:30 Jul 0.40% 0.40% 0.20% 0.30%  
                   
  08/29 Personal Spending 05:30 Jul 0.30% 0.30% 0.40% 0.50%  
                   
  08/29 PCE Core MoM 05:30 Jul 0.10% 0.10% 0.10% -  
                   
  08/29 PCE Core YoY 05:30 Jul 1.50% 1.60% 1.60% -  
                   
  08/29 Dallas Fed Manf. Activity 07:30 Aug -3.90 - -1.30 -  
                   
  08/30 Consumer Confidence Index 07:00 Aug 97.00 - 97.30 -  
                   
  08/31 MBA Mortgage Applications 04:00 26 Aug - - -2.10% -  
                   
  08/31 ADP Employment Change 05:15 Aug 175K - 179K -  
                   
  08/31 Chicago Purchasing Manager 06:45 Aug 54.00 - 55.80 -  
                   
  08/31 Pending Home Sales MoM 07:00 Jul 0.70% - 0.20% -  
                   
  08/31 Pending Home Sales NSA YoY 07:00 Jul - - 0.30% -  
                   
  09/01 Challenger Job Cuts YoY 04:30 Aug - - -57.10% -  
                   
  09/01 Nonfarm Productivity 05:30 2Q F -0.60% - -0.50% -  
                   
  09/01 Initial Jobless Claims 05:30 27 Aug 265K - 261K -  
                   
  09/01 Continuing Claims 05:30 20 Aug - - 2145K -  
                   
  09/01 Bloomberg Consumer Comfort 06:45 28 Aug - - 45.30 -  
                   
  09/01 Markit US Manufacturing PMI 06:45 Aug F 52.00 - 52.10 -  
                   
  09/01 Construction Spending MoM 07:00 Jul 0.60% - -0.60% -  
                   
  09/01 ISM Manufacturing 07:00 Aug 52.00 - 52.60 -  
                   
  09/02 Change in Nonfarm Payrolls 05:30 Aug 185K - 255K -  
                   
  09/02 Unemployment Rate 05:30 Aug 4.80% - 4.90% -  
                   
  09/02 Factory Orders 07:00 Jul 2.00% - -1.50% -  
                   
  09/02 Durable Goods Orders 07:00 Jul F - - 4.40% -  
                   
  09/02 Durables Ex Transportation 07:00 Jul F - - 1.50% -  
                   
 
 
 
 
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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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