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Market Commentary


 
Today's Coupons
 
  10-Year Notes   101-07 (-17)  
 
  FN 3.5% Coupon   103-21.5 (-05.5)  
 
  Support   2.166%  
 
  Resistance   2.016%  
 
 
 
 
Monday, September 11, 2017
 
 
Treasuries are moderately lower across the curve this morning from Friday's close. The UST 10-Year yield is currently at 2.110% after closing at 2.052% prior.

Treasury yields inched higher overnight into the open as safe haven assets demand declined with Hurricane Irma weakening and the absence of action from North Korea over the weekend. The market expected Hurricane Irma to hit Florida with a much stronger impact heading into the weekend, but the force was weaker than expected. There were also concerns that North Korea would launch another test missile over the weekend after releasing a statement about causing the U.S. “the greatest pain and suffering” last week, but there were no missiles fired.

This week's economic calendar is another quiet week leading up to next week's two-day September FOMC meeting. There are no economic reports on deck today, but we will receive the NFIB Small Business Optimism and JOLTS Job Openings on Tuesday, the August PPI Final Demand and Monthly Budget Statement on Wednesday, the CPI inflation and Earnings reports for August on Thursday, and the Retail Sales for August on Friday.

The curve has bear-steepened with the UST 10-Year up 5.8 bps from prior closing.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  09/11 No Data - - - - - -  
                   
  09/12 NFIB Small Business Optimism 03:00 Aug 104.90 - 105.20 -  
                   
  09/12 JOLTS Job Openings 07:00 Jul 5975 - 6163 -  
                   
  09/13 MBA Mortgage Applications 04:00 8 Sep - - 3.30% -  
                   
  09/13 PPI Final Demand MoM 05:30 Aug 0.30% - -0.10% -  
                   
  09/13 PPI Final Demand YoY 05:30 Aug 2.50% - 1.90% -  
                   
  09/13 Monthly Budget Statement 11:00 Aug -$130.00b - -$42.90b -  
                   
  09/14 Initial Jobless Claims 05:30 9 Sep 300k - 298k -  
                   
  09/14 Continuing Claims 05:30 2 Sep 1950k - 1940k -  
                   
  09/14 CPI MoM 05:30 Aug 0.30% - 0.10% -  
                   
  09/14 CPI YoY 05:30 Aug 1.80% - 1.70% -  
                   
  09/14 Bloomberg Consumer Comfort 06:45 10 Sep - - - -  
                   
  09/15 Empire Manufacturing 05:30 Sep - - 25.20 -  
                   
  09/15 Retail Sales Advance MoM 05:30 Aug - - 0.60% -  
                   
  09/15 Industrial Production MoM 06:15 Aug - - 0.20% -  
                   
  09/15 Capacity Utilization 06:15 Aug - - 76.70% -  
                   
  09/15 U. of Mich. Sentiment 07:00 Sep P - - - -  
                   
  09/15 Business Inventories 07:00 Jul - - 0.50% -  
                   
 
 
 
 
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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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