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Market Commentary


 
Today's Coupons
 
  10-Year Notes   98-21 (-07)  
 
  FN 3.5% Coupon   105-14 (-01.5)  
 
  Support   1.646%  
 
  Resistance   1.534%  
 
 
 
 
Tuesday, October 4, 2016
 
 
      The UST 10-Year yield is at 1.646% this morning after closing at 1.623% yesterday.
 
     This morning, the Institute of Supply Management (ISM) released its survey on New York City’s business conditions which increased slightly in September to 49.60 from 47.50 in August. Purchases increased to 47.10 and Revenue was recorded at 51.60 in September, a minor positive change from August. However, Employment plummeted to 33.90, from 54.90, the lowest level since the Great Recession of 2008.
 
    Tomorrow, MBA Mortgage Applications are scheduled to be released along with ADP’s National Private Sector Employment, the Trade Balance deficit, and Factory & Durable Goods Orders. Later this week, Initial and Continuing Jobless Claims, Change in Nonfarm Payrolls and Unemployment Rates for September.
 
      The curve has bear-flattened with the UST 10-Year 2.3 bps up from prior closing.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  10/03 Markit US Manufacturing PMI 06:45 Sep F 51.40 51.50 51.40 -  
                   
  10/03 Construction Spending MoM 07:00 Aug 0.30% -0.70% 0.00% -0.30%  
                   
  10/03 ISM Manufacturing 07:00 Sep 50.40 51.50 49.40 -  
                   
  10/03 ISM Prices Paid 07:00 Sep 53.50 53.00 53.00 -  
                   
  10/04 ISM New York 06:45 Sep - 49.60 47.50 -  
                   
  10/05 MBA Mortgage Applications 04:00 30 Sep - - -0.70% -  
                   
  10/05 ADP Employment Change 05:15 Sep 165K - 177K -  
                   
  10/05 Markit US Services PMI 06:45 Sep F 51.90 - 51.90 -  
                   
  10/05 Markit US Composite PMI 06:45 Sep F - - 52.00 -  
                   
  10/05 Factory Orders 07:00 Aug -0.20% - 1.90% -  
                   
  10/05 Durable Goods Orders 07:00 Aug F 0.00% -   0.00% -  
                   
  10/05 Durables Ex Transportation 07:00 Aug F - - -0.40% -  
                   
  10/06 Challenger Job Cuts YoY 04:30 Sep - - -21.80% -  
                   
  10/06 Initial Jobless Claims 05:30 1 Oct 256K - 254K -  
                   
  10/06 Continuing Claims 05:30 24 Sep 2096K - 2062K -  
                   
  10/06 Bloomberg Consumer Comfort 06:45 2 Oct - - 41.60 -  
                   
  10/07 Change in Nonfarm Payrolls 05:30 Sep 174K - 151K -  
                   
  10/07 Unemployment Rate 05:30 Sep 4.90% - 4.90% -  
                   
  10/07 Average Hourly Earnings MoM 05:30 Sep 0.30% - 0.10% -  
                   
  10/07 Average Hourly Earnings YoY 05:30 Sep 2.60% - 2.40% -  
                   
  10/07 Underemployment Rate 05:30 Sep - - 9.70% -  
                   
  10/07 Wholesale Inventories MoM 07:00 Aug F -0.10% - -0.10% -  
                   
  10/07 Wholesale Trade Sales MoM 07:00 Aug - - -0.40% -  
                   
 
 
 
 
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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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