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Market Commentary

Market Commentary

Today's Coupons
  10-Year Notes   99-10.5 (-10)  
  FN 3.5% Coupon   105-16.5 (-01.5)  
  Support   1.618%  
  Resistance   1.519%  
Thursday, September 8, 2016
       The UST 10-Year yield is at 1.588% this morning after closing at 1.539% yesterday.
   The new jobless claims report was released today, 6K lower than the expected 265K, corroborating the falling number of new unemployment claims we saw Thursday of last week. Continuing jobless claims were also lower than expected coming in at 2144K vs. 2151K consensus. In sync with these numbers is the growth in consumer comfort, which rose by 0.60 to 44.00. With the unemployment rate steadily below 5.00% and job openings reaching a record high in July, we continue to see steady economic growth.
    Ahead of the FOMC meeting, Sept 20-21, the Federal Reserve released the Beige Book which gathers state and district wide information on the current economic climate. The report showed signs of a strong labor market, rising wages, and the continued expansion of the economy at a modest pace in July and August.
       The curve has bear-steepened with the UST 10-Year 5 bps up from prior 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 - 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 259K 263K -  
  09/08 Continuing Claims 05:30 27 Aug 2151K 2144K 2159K 2151K  
  09/08 Bloomberg Consumer Comfort 06:45 4 Sep - 44.00 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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