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Market Commentary


 
Today's Coupons
 
  10-Year Notes   97-13.5 (-08)  
 
  FN 3.5% Coupon   105-00 (-01.5)  
 
  Support   1.797%  
 
  Resistance   1.612%  
 
 
 
 
Wednesday, October 12, 2016
 
 
     The UST 10-Year yield is at 1.785% this morning after closing at 1.764% on Tuesday.

    US Treasury yields continue to rise as investors shed exposure ahead of $56 Billion in Treasury auctions over the next two days. The FOMC minutes from the September meeting will also be released today and could give more insight on when the next rate hike will occur. The Fed voted to keep rates unchanged during the last meeting but Fed Vice Chairman Stanley Fischer said the decision had been a "close call."

   Today's economic data showed MBA Mortgage Applications down 6.00% vs. 2.90% in the prior period. For the rest of the week we have Jobless claims on Thursday, Retail Sales and PPI on Friday. The US will auction $24 Billion of three-year notes and $20 Billion of 10-Year notes with an additional $12 Billion of 30-Year bonds on Thursday

     The curve has bear-steepened with the UST 10-Year 2.1 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 - -6.00% 2.90% -  
                   
  10/12 JOLTS Job Openings 07:00 Aug 5800 - 5871 -  
                   
  10/12 FOMC Meeting Minutes 11:00 21 Sep - - - -  
                   
  10/13 Import Price Index MoM 05:30 Sep 0.10% - -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 2050K - 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 0.60% - 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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