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Market Commentary

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Market Commentary


 
Today's Coupons
 
  10-Year Notes   98-29 (+14)  
 
  FN 3.5% Coupon   105-14 (+05.5)  
 
  Support   1.738%  
 
  Resistance   1.620%  
 
 
 
 
Thursday, September 22, 2016
 
 
   The UST 10-Year yield is at 1.629% this morning after closing at 1.651% yesterday.
 
   In this morning's economic data, we received initial and continuing jobless claims, both providing evidence of a stronger labor market. The initial jobless claims came in at 252K, 8K lower than the week prior and 9K lower than economists forecasted. Continuing claims came in at 2113K, 27K lower than consensus and 36K lower than the week ending in Sept 10th; the largest drop we have seen since May.
 
   Sales of existing home sales in the U.S. dropped in August to 5.33 Million vs. consensus of 5.45 Million. MoM existing sales fell to -0.90% vs. the forecasted 1.10%.
 
  The leading index, which measures future economic changes, declined by 0.60% this morning vs. the month prior and fell below the consensus of 0.00%.
 
   The curve has bull-flattened with the UST 10-Year 2.2 bps down from prior closing.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  09/19 NAHB Housing Market Index 07:00 Sep 60.00 65.00 60.00 59.00  
                   
  09/20 Housing Starts 05:30 Aug 1190K 1142K 1211K 1212K  
                   
  09/20 Housing Starts MoM 05:30 Aug -1.70% -5.80% 2.10% 1.40%  
                   
  09/20 Building Permits 05:30 Aug 1165K 1139K 1152K 1144K  
                   
  09/20 Building Permits MoM 05:30 Aug 1.80% -0.40% -0.10% -0.80%  
                   
  09/21 MBA Mortgage Applications 04:00 16 Sep - -7.30% 4.20% -  
                   
  09/21 FOMC Rate Decision (Upper Bound) 11:00 21 Sep 0.50% - 0.50% -  
                   
  09/21 FOMC Rate Decision (Lower Bound) 11:00 21 Sep 0.25% - 0.25% -  
                   
  09/22 Initial Jobless Claims 05:30 17 Sep 261K 252K 260K -  
                   
  09/22 Continuing Claims 05:30 10 Sep 2140K 2113K 2143K 2149K  
                   
  09/22 FHFA House Price Index MoM 06:00 Jul 0.30% 0.50% 0.20% 0.30%  
                   
  09/22 Bloomberg Consumer Comfort 06:45 18 Sep - 41.30 42.20 -  
                   
  09/22 Existing Home Sales 07:00 Aug 5.45 M 5.33 M 5.39 M 5.38 M  
                   
  09/22 Existing Home Sales MoM 07:00 Aug 1.10% -0.90% -3.20% -3.40%  
                   
  09/22 Leading Index 07:00 Aug 0.00% -0.20% 0.40% 0.50%  
                   
  09/22 Kansas City Fed Manf. Activity 08:00 Sep -3.00 - -4.00 -  
                   
  09/23 Markit US Manufacturing PMI 06:45 Sep P 52.00 - 52.00 -  
                   
 
 
 
 
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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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