Back to top

Market Commentary

Home
Market Commentary


 
Today's Coupons
 
  10-Year Notes   98-31 (-06)  
 
  FN 3.5% Coupon   98-21 (-04)  
 
  Support   3.111%  
 
  Resistance   2.810%  
 
 
 
 
Friday, September 14, 2018
 
 
Treasuries are lower across the curve this morning from yesterday's close. The UST 10-Year yield is currently at 2.999% after closing at 2.971% prior.

Treasuries fell overnight and are weaker across the curve at the start of today's session as the 10-Year yield continues to move toward 3.00% for just the second time since May. Central banks, looming trade concerns, and a heavy set of economic reports have made it a busy week for investors. Yesterday treasuries gained on weaker than expected August inflation data early in the session. There were also reports that the U.S. would be open to resume trade talks with China prior to moving forward with imposing tariffs on the next $200 Billion imports which slightly lifted sentiment, although a resolution to the ongoing trade conflict remains uncertain. Finally, this week's scheduled Fed speakers conclude today with Chicago Fed President Evans and Boston Fed President Rosengren.

This morning we received the August Retail Sales Advance which rose just 0.10% MoM following an upwardly revised 0.70% gain prior; consensus called for a 0.40% increase for the month. Excluding auto, retail sales gained 0.30% MoM following a stronger revised 0.90% rise prior, while retail sales excluding auto and gas rose 0.20% MoM following a revised 0.90% increase prior. We also received the August Import Price Index which fell 0.60% MoM following a downwardly revised 0.10% drop prior; its YoY level showed a 3.70% increase versus a revised 4.90% increase prior. Export Price Index fell 0.10% MoM following a 0.50% drop prior, bringing its YoY level down to a 3.60% gain versus a 4.30% increase prior. Lastly, the August Industrial Production showed a 0.40% increase following a revised 0.40% rise prior, and the Capacity Utilization increased to 78.10% from a revised 77.90% prior.

The curve has bear-steepened with the UST 10-Year yield up 2.8 bps from prior closing.

Have A Nice Weekend!
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  09/10 Consumer Credit 12:00 Jul $14.000b $16.640b $10.211b $8.463b  
                   
  09/11 NFIB Small Business Optimism 03:00 Aug 108.00 108.80 107.90 -  
                   
  09/11 JOLTS Job Openings 07:00 Jul 6675 6939 6662 6822  
                   
  09/11 Wholesale Trade Sales MoM 07:00 Jul 0.10% 0.00% -0.10% -0.20%  
                   
  09/11 Wholesale Inventories MoM 07:00 Jul F 0.70% 0.60% 0.70% -  
                   
  09/12 MBA Mortgage Applications 04:00 7 Sep - -1.80% -0.10% -  
                   
  09/12 PPI Final Demand MoM 05:30 Aug 0.20% -0.10% 0.00% -  
                   
  09/12 PPI Final Demand YoY 05:30 Aug 3.20% 2.80% 3.30% -  
                   
  09/12 U.S. Federal Reserve Releases Beige Book 11:00 - - - - -  
                   
  09/13 CPI MoM 05:30 Aug 0.30% 0.20% 0.20% -  
                   
  09/13 CPI YoY 05:30 Aug 2.80% 2.70% 2.90% -  
                   
  09/13 Initial Jobless Claims 05:30 8 Sep 210k 204k 203k 205k  
                   
  09/13 Continuing Claims 05:30 1 Sep 1710k 1696k 1707k 1711k  
                   
  09/13 Bloomberg Consumer Comfort 06:45 9 Sep - 59.00 58.00 -  
                   
  09/13 Monthly Budget Statement 11:00 Aug -$211.00b -$214.10b -$107.70b -  
                   
  09/14 Retail Sales Advance MoM 05:30 Aug 0.40% 0.10% 0.50% 0.70%  
                   
  09/14 Import Price Index MoM 05:30 Aug -0.20% -0.60% 0.00% -0.10%  
                   
  09/14 Import Price Index YoY 05:30 Aug 4.10% 3.70% 4.80% 4.90%  
                   
  09/14 Export Price Index MoM 05:30 Aug 0.00% -0.10% -0.50% -  
                   
  09/14 Export Price Index YoY 05:30 Aug - 3.60% 4.30% -  
                   
  09/14 Industrial Production MoM 06:15 Aug 0.30% 0.40% 0.10% 0.40%  
                   
  09/14 Capacity Utilization 06:15 Aug 78.20% 78.10% 78.10% 77.90%  
                   
  09/14 Business Inventories 07:00 Jul 0.60% 0.60% 0.10% -  
                   
  09/14 U. of Mich. Sentiment 07:00 Sep P 96.60 100.80 96.20 -  
                   
 
 
 
 
Helpful Links
  Visit Us Online   Submit Loan  
  Get Approved   SeeMyLoanStatusTM  
  Download Rate Sheet   Conventional Program Guidelines  
  Price & Lock   Government Program Guidelines  
 
 
   
 
  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  
 
©2019 Sun West Mortgage Company, Inc. All Rights Reserved