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Market Commentary


 
Today's Coupons
 
  10-Year Notes   98-12 (-03) 2.183%  
 
  FN 3.5% Coupon   103-23 (-03)  
 
  Support   2.210%  
 
  Resistance   1.990%  
 
 
 
 
Today's Blurb Wednesday, September 2, 2015
 
 
        MBA Mortgage Applications, for the week ended August 28th, rose by +11.30% vs. +0.20% prior. Purchases rose to +4.10% vs. +1.70% prior (+25.10% YoY), Refinancing rose to +16.80% vs. -1.00% prior and the average interest rate for a Conforming Conventional loan remained at 4.08% for the second consecutive week (4.25% a year ago). ADP payrolls rose 190K (consensus 200k) and July was revised down from 185K to 177K. On average, over the past twelve months, ADP has diverged from Nonfarm Payrolls by 40K with underestimates as large as 130K and overestimates as large as 61K. July Factory Orders rose less than expected, up +0.40% (consensus +0.90%) with June revised up from +1.80% to +2.20%. Treasuries are lower this morning and the curve has bear steepened with 2s10s up +0.6 bps.
 
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  08/31 ISM Milwaukee 06:00 Aug 50.00 47.67 47.12 -  
                   
  08/31 Dallas Fed Manf. Activity 07:30 Aug -4.00 -15.80 -4.60 -  
                   
  09/01 Markit US Manufacturing PMI 06:45 Aug F 52.90 53.00 52.90 -  
                   
  09/01 Construction Spending MoM 07:00 Jul 0.60% 0.70% 0.10% 0.70%  
                   
  09/01 ISM Manufacturing 07:00 Aug 52.50 51.10 52.70 -  
                   
  09/02 MBA Mortgage Applications 04:00 Aug 28 - 11.30% 0.20% -  
                   
  09/02 ADP Employment Change 05:15 Aug 200K 190K 185K 177K  
                   
  09/02 Nonfarm Productivity 05:30 2Q F 2.80% 3.30% 1.30% -  
                   
  09/02 ISM New York 06:45 Aug - 51.10 68.80 -  
                   
  09/02 Factory Orders 07:00 Jul 0.90% 0.40% 1.80% 2.20%  
                   
  09/02 Beige Book 11:00 - - - - -  
                   
  09/03 Initial Jobless Claims 05:30 Aug 29 275K - 271K -  
                   
  09/03 Continuing Claims 05:30 Aug 22 2255K - 2269K -  
                   
  09/03 Trade Balance 05:30 Jul -$42.20 Bn - -$43.84 Bn -  
                   
  09/03 Markit US Composite PMI 06:45 Aug F - - 55.00 -  
                   
  09/03 Markit US Services PMI 06:45 Aug F 55.00 - 55.20 -  
                   
  09/04 Change in Nonfarm Payrolls 05:30 Aug 218K - 215K -  
                   
  09/04 Unemployment Rate 05:30 Aug 5.20% - 5.30% -  
                   
  09/04 Average Hourly Earnings MoM 05:30 Aug 0.20% - 0.20% -  
                   
  09/04 Average Hourly Earnings YoY 05:30 Aug 2.10% - 2.10% -  
                   
  09/04 Underemployment Rate 05:30 Aug - - 10.40% -  
                   
  09/04 Labor Force Participation Rate 05:30 Aug - - 62.60% -  
                   
 
 
 
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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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