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Market Commentary

Market Commentary

Today's Coupons
  10-Year Notes   98-13.5 (-16.5)  
  FN 3.5% Coupon   105-07 (-05)  
  Support   1.670%  
  Resistance   1.519%  
Friday, September 9, 2016
The UST 10-Year yield is at 1.661% this morning after closing at 1.599% yesterday.
This morning, bonds, particularly longer maturity bonds, continue to sell off after yesterdays’ European Central Bank (ECB) meeting announced that it will keep its monetary policy and asset purchase program unchanged.
In economic updates, Wholesale Inventory Stocks came in better than expected, at 0.00% vs. consensus of 0.10% for July. This suggests continued economic growth in the third quarter, as a low reading in unsold goods held by wholesalers are a key component of gross domestic activity.
The curve has bear-steepened with the UST 10-Year 6 bps up from prior closing.
Have An Amazing Weekend!
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% 0.00% -  
  09/09 Wholesale Trade Sales MoM 07:00 Jul 0.20% -0.40% 1.90% 1.70%  
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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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