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Market Commentary


 
Today's Coupons
 
  10-Year Notes   98-31.5 (-12)  
 
  FN 3.5% Coupon   105-9.5 (-1.5)  
 
  Support   1.631%  
 
  Resistance   1.534%  
 
 
 
 
Friday, September 2, 2016
 
 
   The UST 10-Year yield is at 1.616% this morning after closing at 1.568% yesterday.
 
   Unemployment rate numbers came in this morning close to where they were this time last year, at 4.90%, just 0.10% higher than expected. The numbers are stable yet not strong enough to increase the possibility of a September rate hike. Nonfarm Payrolls similarly came in 29K lower than expected at 151K, lower than the last 12 month average of 204K and even lower than the 2015 average of 229K.
 
   The US Trade Deficit July numbers declined for the first time in four months to $39.50 Billion, due to a 1.98% increase in exports to $186 Billion, which was partly driven by an increased demand in food shipments and soybeans.
 
   US. Factory Orders came in just 0.10% lower than expected at 1.90%. These numbers are consistent with the lower number of new jobs as factories are not suffering from a back log of orders. Durable goods orders came in as expected at 4.40%.
 
   The curve has bear-steepened with the UST 10-Year 4 bps up from prior closing.
 
    Have A Great Weekend!
 
 
   
 
   
 
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 97.00 101.10 97.30 96.70  
                   
  08/31 MBA Mortgage Applications 04:00 26 Aug - 2.80% -2.10% -  
                   
  08/31 ADP Employment Change 05:15 Aug 175K 177K 179K 194K  
                   
  08/31 Chicago Purchasing Manager 06:45 Aug 54.00 51.50 55.80 -  
                   
  08/31 Pending Home Sales MoM 07:00 Jul 0.70% 1.30% 0.20% -0.80%  
                   
  08/31 Pending Home Sales NSA YoY 07:00 Jul 2.20% -2.20% 0.30% -0.70%  
                   
  09/01 Challenger Job Cuts YoY 04:30 Aug - -21.80% -57.10% -  
                   
  09/01 Nonfarm Productivity 05:30 2Q F -0.60% -0.60% -0.50% -  
                   
  09/01 Initial Jobless Claims 05:30 27 Aug 265K 263K 261K -  
                   
  09/01 Continuing Claims 05:30 20 Aug 2145K 2159K 2145K -  
                   
  09/01 Bloomberg Consumer Comfort 06:45 28 Aug - 43.40 45.30 -  
                   
  09/01 Markit US Manufacturing PMI 06:45 Aug F 52.10 52.00 52.10 -  
                   
  09/01 Construction Spending MoM 07:00 Jul 0.50% 0.00% -0.60% 0.90%  
                   
  09/01 ISM Manufacturing 07:00 Aug 52.00 49.40 52.60 -  
                   
  09/02 Change in Nonfarm Payrolls 05:30 Aug 180K 151K 255K 275K  
                   
  09/02 Unemployment Rate 05:30 Aug 4.80% 4.90% 4.90% -  
                   
  09/02 Factory Orders 07:00 Jul 2.00% 1.90% -1.50% -1.80%  
                   
  09/02 Durable Goods Orders 07:00 Jul F 4.40% 4.40% 4.40% -  
                   
  09/02 Durables Ex Transportation 07:00 Jul F 1.50% 1.30% 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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