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Market Commentary


 
Today's Coupons
 
  10-Year Notes   99-15.5 (00)  
 
  FN 3.5% Coupon   105-21 (+0.5)  
 
  Support   1.735%  
 
  Resistance   1.546%  
 
 
 
 
Wednesday, September 28, 2016
 
 
    The UST 10-Year yield is at 1.555% this morning after closing at 1.556% yesterday.
 
    In today‚Äôs economic news, the Mortgage Bankers Association (MBA) released its weekly report on mortgage applications which fell for a second consecutive week by -0.70% from -7.30% the prior week. The week over week purchase index rose by 0.80% while refinances fell by 1.60%.
 
   Economists forecasted durable goods orders to fall by 1.50% in August, however, orders were nearly unchanged. Orders for durable goods excluding transportation fell by 0.40% from the prior month and were 0.10% better than consensus. Nondefense capital goods ex-aircraft orders rose by 0.60% and shipments fell by 0.40% after a 0.70% drop in July.
 
   The U.S. Treasury will conduct two auctions today starting with $13 Billion of reopened 2-year notes and $28 Billion in 7-year notes.
 
    The curve has bull-steepened with the UST 10-Year 0.1 bp down from prior closing.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  09/26 New Home Sales 07:00 Aug 600K 609K 654K 659K  
                   
  09/26 New Home Sales MoM 07:00 Aug -8.30% -7.60% 12.40% 13.80%  
                   
  09/26 Dallas Fed Manf. Activity 07:30 Sep -2.50 -3.70 -6.20 -  
                   
  09/27 S&P CoreLogic CS 20-City MoM SA 06:00 Jul 0.00% -0.01% -0.07% -0.10%  
                   
  09/27 S&P CoreLogic CS 20-City YoY NSA 06:00 Jul 5.10% 5.02% 5.13% 5.11%  
                   
  09/27 Markit US Services PMI 06:45 Sep P 51.20 51.90 51.00 -  
                   
  09/27 Markit US Composite PMI 06:45 Sep P - 52.00 51.50 -  
                   
  09/27 Consumer Confidence Index 07:00 Sep 99.00 104.10 101.10 101.80  
                   
  09/28 MBA Mortgage Applications 04:00 23 Sep - -0.70% -7.30% -  
                   
  09/28 Durable Goods Orders 05:30 Aug P -1.50% 0.00% 4.40% 3.60%  
                   
  09/28 Durables Ex Transportation 05:30 Aug P -0.50% -0.40% 1.30% 1.10%  
                   
  09/29 Wholesale Inventories MoM 05:30 Aug P 0.00% - 0.00% -  
                   
  09/29 Initial Jobless Claims 05:30 24 Sep 260K - 252K -  
                   
  09/29 Continuing Claims 05:30 17 Sep 2129K - 2113K -  
                   
  09/29 GDP Annualized QoQ 05:30 2Q T 1.30% - 1.10% -  
                   
  09/29 Personal Consumption 05:30 2Q T 4.40% - 4.40% -  
                   
  09/29 GDP Price Index 05:30 2Q T 2.30% - 2.30% -  
                   
  09/29 Core PCE QoQ 05:30 2Q T 1.80% - 1.80% -  
                   
  09/29 Bloomberg Consumer Comfort 06:45 25 Sep - - 41.30 -  
                   
  09/30 Personal Income 05:30 Aug 0.20% - 0.40% -  
                   
  09/30 Personal Spending 05:30 Aug 0.10% - 0.30% -  
                   
  09/30 PCE Deflator MoM 05:30 Aug - - - -  
                   
  09/30 PCE Deflator YoY 05:30 Aug - - - -  
                   
  09/30 PCE Core MoM 05:30 Aug - - - -  
                   
  09/30 PCE Core YoY 05:30 Aug - - - -  
                   
  09/30 U. of Mich. Sentiment 07:00 Sep F - - - -  
                   
 
 
 
 
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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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