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Market Commentary


 
Today's Coupons
 
  10-Year Notes   99-09 (+02.5)  
 
  FN 3.5% Coupon   103-05 (+02.5)  
 
  Support   2.368%  
 
  Resistance   2.213%  
 
 
 
 
Tuesday, October 03, 2017
 
 
Treasuries are slightly higher across the curve this morning from yesterday's close. The UST 10-Year yield is currently at 2.339% after closing at 2.342% prior.

This morning the market shifted its focus back on President Trump's tax reform in which investors are assessing the prospects of the proposed tax cuts after concerns were raised that it could balloon the deficit. The concerns over the tax reform stalled the U.S. Equities and Dollar gains, while treasury yields inched lower.

Today we have a quiet economic calendar with only the September's vehicle sales report on the schedule. The Wards Total Vehicles Sales is expected to rebound and increase to 17.15 Million from a disappointing 16.03 Million in August due to Hurricane Harvey. The Wards Domestic Vehicle Sales is also expected to increase upwardly to 13.00 Million from 12.48 Million prior. In Fedspeak, Fed Governor Powell will speak this morning on regulatory reform at a Reuters Conversation on U.S. Financial Regulation event in Washington.

The curve has bull-steepened with the UST 10-Year down 0.3 bp from prior closing.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  10/02 Markit US Manufacturing PMI 06:45 Sep F 53.00 53.10 53.00 -  
                   
  10/02 ISM Manufacturing 07:00 Sep 58.10 60.80 58.80 -  
                   
  10/02 ISM Prices Paid 07:00 Sep 63.00 71.50 62.00 -  
                   
  10/02 Construction Spending MoM 07:00 Sep 0.40% 0.50% -0.60% -1.20%  
                   
  10/03 No Data - - - - - -  
                   
  10/04 MBA Mortgage Applications 04:00 29 Sep - - -0.50% -  
                   
  10/04 ADP Employment Change 05:15 Sep 135k - 237k -  
                   
  10/04 Markit US Services PMI 06:45 Sep F 55.10 - 55.10 -  
                   
  10/04 Markit US Composite PMI 06:45 Sep F - - 54.60 -  
                   
  10/05 Challenger Job Cuts YoY 04:30 Sep - - 5.10% -  
                   
  10/05 Initial Jobless Claims 05:30 30 Sep 265k - 272k -  
                   
  10/05 Continuing Claims 05:30 23 Sep 1950k - 1934k -  
                   
  10/05 Trade Balance 05:30 Aug -$42.70b - -$43.70b -  
                   
  10/05 Bloomberg Consumer Comfort 06:45 1 Oct - - 51.60 -  
                   
  10/05 Factory Orders 07:00 Aug 1.00% - -3.30% -  
                   
  10/05 Durable Goods Orders 07:00 Aug F 1.70% - 1.70% -  
                   
  10/05 Durables Ex Transportation 07:00 Aug F - - 0.20% -  
                   
  10/06 Change in Nonfarm Payrolls 05:30 Sep 80k - 156k -  
                   
  10/06 Unemployment Rate 05:30 Sep 4.40% - 4.40% -  
                   
  10/06 Average Hourly Earnings MoM 05:30 Sep 0.30% - 0.10% -  
                   
  10/06 Average Hourly Earnings YoY 05:30 Sep 2.50% - 2.50% -  
                   
  10/06 Labor Force Participation Rate 05:30 Sep - - 62.90% -  
                   
  10/06 Underemployment Rate 05:30 Sep - - 8.60% -  
                   
  10/06 Wholesale Trade Sales MoM 07:00 Aug - - -0.10% -  
                   
  10/06 Wholesale Inventories MoM 07:00 Aug F 1.00% - 1.00% -  
                   
 
 
 
 
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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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