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Market Commentary

Market Commentary

Today's Coupons
  10-Year Notes   99-19 (+15.5)  
  FN 3.5% Coupon   105-16 (+06)  
  Support   1.621%  
  Resistance   1.549%  
Tuesday, September 6, 2016
     The UST 10-Year yield is at 1.592% this morning after closing at 1.602% Friday.
    Recent economic data has taken the spot light as investors’ gage the likelihood of the Federal Reserve raising rates this month or December. Today, the Institute of Supply Management has released the nationwide economic activity for the non-manufacturing sector which came in at 51.40 vs. consensus at 54.90. While a reading above 50.00 is indeed a sign of economic growth, for August, the shrinkage in production and orders as well as a cut backs in hiring are representative of slowest growing month we have seen since February 2010.
    Later this week in the economic calendar MBA Mortgage Applications will be released Wednesday, Initial and Continuing Jobless Claims data will be released Thursday and Wholesale Inventories MoM this Friday.
    The curve has bull-steepened with the UST 10-Year 1 bp down from Friday’s closing.
This Week's Events
  09/06 Labor Market Conditions Index Change 07:00 Aug 0.00 -0.70 1.00 1.30  
  09/07 MBA Mortgage Applications 04:00 2 Sep - - 2.80% -  
  09/07 JOLTS Job Openings 07:00 Jul 5625 - 5624 -  
  09/07 U.S. Federal Reserve Releases Beige Book 11:00 - - - - -  
  09/08 Initial Jobless Claims 05:30 3 Sep 265K - 263K -  
  09/08 Continuing Claims 05:30 27 Aug 2151K - 2159K -  
  09/08 Bloomberg Consumer Comfort 06:45 4 Sep - - 43.40 -  
  09/09 Wholesale Inventories MoM 07:00 Jul F 0.00% - 0.00% -  
  09/09 Wholesale Trade Sales MoM 07:00 Jul 0.20% - 1.90% -  
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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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