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Market Commentary


 
Today's Coupons
 
  10-Year Notes   100-24.5 (-08.5)  
 
  FN 3.5% Coupon   103-10 (-03)  
 
  Support   2.166%  
 
  Resistance   2.016%  
 
 
 
 
Tuesday, September 12, 2017
 
 
Treasuries are lower across the curve this morning from yesterday's close. The UST 10-Year yield is currently at 2.167% after closing at 2.131% prior.

Treasuries extended losses overnight as investors fled to riskier assets after Hurricane Irma appeared to not be as catastrophic as expected, and military action lacked from North Korea over the weekend. Earlier predictions gauged Hurricane Irma's damage to exceed $200 Billion, but that estimation has been brought down to about $50 Billion since. With another quiet economic calendar day, investors will continue to assess the impact of natural disasters on U.S. growth.

This morning we received the NFIB Small Business Optimism Index for August, which climbed to 105.30 following a 105.20 rise in July. Consensus expected the index to drop to 104.80, but the index rose for the second time this year. There will not be any Fed Speak this week ahead of next week's September FOMC meeting. Later at 10:00 AM (PT), Treasury will auction $20 Billion 10-Year Notes Reopening.

The curve has bear-steepened with the UST 10-Year up 3.6 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 104.80 105.30 105.20 -  
                   
  09/12 JOLTS Job Openings 07:00 Jul 6000 6170 6163 6116  
                   
  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 -$119.00b - -$107.10b -  
                   
  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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