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Market Commentary


 
Today's Coupons
 
  10-Year Notes   99-20.5 (+01)  
 
  FN 3.5% Coupon   105-17 (+01)  
 
  Support   1.618%  
 
  Resistance   1.519%  
 
 
 
 
Wednesday, September 7, 2016
 
 
    The UST 10-Year yield is at 1.539% this morning after closing at 1.534% yesterday.
 
  In today‚Äôs economic calendar, MBA Mortgage Application Index rose 0.90% for a second consecutive week after rising 2.80% the week prior. Purchases are up 1.20% and refinances had a slower increase by 0.70% after rising 3.70% the week prior. Purchase applications for the Federal Housing Administration are up by 2.20% while refinances declined by 4.70%. The VA also shows a slight increase in purchases by 0.10% and refinances declined by 6.40%.
 
    The Job Openings and Labor Turnover Survey (JOLTS) was released this morning to a record high of 5871 vs. 5630 consensus. Job openings increased by 1.00% to 3.90% the month prior, and the quits rate rose to 2.10%. The latter is indicative of the increase in confidence to find new job openings.
 
   Later today, the U.S. Federal Reserve will release the Beige Book which will provide a closer measure of the current economic conditions in advance of the Federal Open Market Committee (FOMC) meeting.
 
    The curve has bear-flattened with the UST 10-Year 0.5 bp up from prior closing.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  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 - 0.90% 2.80% -  
                   
  09/07 JOLTS Job Openings 07:00 Jul 5630 5871 5624 5643  
                   
  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 0.10% - 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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