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Market Commentary

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Market Commentary


 
Today's Coupons
 
  10-Year Notes   98-09 (-05)  
 
  FN 3.5% Coupon   105-06.5 (+01.5)  
 
  Support   1.694%  
 
  Resistance   1.519%  
 
 
 
 
Tuesday, September 13, 2016
 
 
    The UST 10-Year yield is at 1.675% this morning after closing at 1.663% yesterday.
 
   Yesterday the market seemed to have reacted to the Federal Reserve's, Lael Brainard, dovish comments and recovered some of the losses we saw on Friday. This morning the 10-Year is nearly unchanged from yesterday.
 
    In economic news, the NFIB Small Business Optimism Index fell 0.20 points from last July, coming in at 94.40 vs. consensus of 94.80 and remaining below the 42-Year average for 98.00. According to the National Federation of Independent Business (NFIB), this is partly due to the current political climate as small businesses refuse to expand in anticipation of worse business conditions ahead and are also unable to find qualified workers to fill open positions.
 
    The US Congressional Monthly Budget Statement will be released later today, the deficit expected to widen by -$42.60 Billion from July to $107.00 Billion, for the first time since 2009.
 
    The curve has bear-steepened with the UST 10-Year 1 bp up from prior closing.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  09/12 No Data - - - - - -  
                   
  09/13 NFIB Small Business Optimism 03:00 Aug 94.80 94.40 94.60 -  
                   
  09/14 MBA Mortgage Applications 04:00 9 Sep - - 0.90% -  
                   
  09/14 Import Price Index MoM 05:30 Aug -0.10% - 0.10% -  
                   
  09/14 Import Price Index YoY 05:30 Aug -2.20% - -3.70% -  
                   
  09/15 Retail Sales Advance MoM 05:30 Aug -0.10% - 0.00% -  
                   
  09/15 Initial Jobless Claims 05:30 10 Sep 265K - 259K -  
                   
  09/15 Continuing Claims 05:30 3 Sep 2150K - 2144K -  
                   
  09/15 PPI Final Demand MoM 05:30 Aug 0.10% - -0.40% -  
                   
  09/15 PPI Final Demand YoY 05:30 Aug 0.10% - -0.20% -  
                   
  09/15 Empire Manufacturing 05:30 Sep - - -4.21 -  
                   
  09/15 Industrial Production MoM 06:15 Aug - - 0.70% -  
                   
  09/15 Capacity Utilization 06:15 Aug - - 75.90% -  
                   
  09/15 Bloomberg Consumer Comfort 06:45 11 Sep - - - -  
                   
  09/15 Business Inventories 07:00 Jul - - 0.20% -  
                   
  09/16 CPI MoM 05:30 Aug - - 0.00% -  
                   
  09/16 CPI YoY 05:30 Aug - - 0.80% -  
                   
  09/16 Real Avg Weekly Earnings YoY 05:30 Aug - - 1.40% -  
                   
  09/16 U. of Mich. Sentiment 07:00 Sep P - - 89.80 -  
                   
 
 
 
 
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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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