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Market Commentary


 
Today's Coupons
 
  10-Year Notes   97-20 (-08)  
 
  FN 3.5% Coupon   105-05 (-02.5)  
 
  Support   1.778%  
 
  Resistance   1.593%  
 
 
 
 
Tuesday, October 11, 2016
 
 
     The UST 10-Year yield is at 1.740% this morning after closing at 1.720% on Friday.

    Treasury yields are sharply up this morning on the strength of the US Dollar and comments by Fed Bank of Chicago President Charles Evans who noted that Fed policy may soon be changing. Shorter term rates are also on the rise as the UST 2-Year yield is up 4 bps to 0.870%, the highest yield since early June. Investors will get more insight on the Fed's thinking tomorrow when the minutes from the September FOMC meeting are released. 

    Today's economic data is light with NFIB Small Business Optimism coming in at 94.10 vs. 95.00 expected. For the rest of the week we have MBA Mortgage Applications and Fed minutes tomorrow, Jobless claims on Thursday and Retail Sales and PPI on Friday. 

     The curve has bear-steepened with the UST 10-Year 5 bps up from prior closing.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  10/10 No Data - - - - - -  
                   
  10/11 NFIB Small Business Optimism 03:00 Sep 95.00 94.10 94.40 -  
                   
  10/12 MBA Mortgage Applications 04:00 7 Oct - - 2.90% -  
                   
  10/12 JOLTS Job Openings 07:00 Aug 5775 - 5871 -  
                   
  10/12 FOMC Meeting Minutes 11:00 21 Sep - - - -  
                   
  10/13 Import Price Index MoM 05:30 Sep 0.20% - -0.20% -  
                   
  10/13 Import Price Index YoY 05:30 Sep -1.00% - -2.20% -  
                   
  10/13 Initial Jobless Claims 05:30 8 Oct 253K - 249K -  
                   
  10/13 Continuing Claims 05:30 1 Oct 2060K - 2058K -  
                   
  10/13 Bloomberg Consumer Comfort 06:45 9 Oct - - 41.40 -  
                   
  10/14 Retail Sales Advance MoM 05:30 Sep 0.60% - -0.30% -  
                   
  10/14 PPI Final Demand MoM 05:30 Sep 0.20% - 0.00% -  
                   
  10/14 PPI Final Demand YoY 05:30 Sep - - 0.00% -  
                   
  10/14 Business Inventories 07:00 Aug 0.00% - 0.00% -  
                   
  10/14 U. of Mich. Sentiment 07:00 Oct P - - 91.20 -  
                   
 
 
 
 
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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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