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Market Commentary


 
Today's Coupons
 
  10-Year Notes   99-07 (+04)  
 
  FN 3.5% Coupon   102-29.5 (+03)  
 
  Support   2.397%  
 
  Resistance   2.035%  
 
 
 
 
Thursday, October 12, 2017
 
 
Treasuries are slightly higher across the curve this morning from yesterday‘s close. The UST 10-Year yield is currently at 2.328% after closing at 2.349% prior.

This morning we received the PPI Final Demand for September which came in line with expectation, rising 0.40% MoM following a 0.20% rise in August. PPI Excluding Food and Energy MoM also rose 0.40% following a 0.10% rise prior, and PPI Excluding Food, Energy and Trade MoM rose as expected at 0.20% for the month. PPI Final Demand YoY is now up 2.60% versus 2.40% prior, and PPI Excluding Food and Energy YoY is now up 2.20% versus 2.00% prior.

We also received the Initial Jobless Claims for the week ending on October 7th which fell 15k to 243k from a downwardly revised 258k the week prior. Continuing Claims for the week ending on September 30th fell 32k to 1889k from a downwardly revised 1921k the week prior. The continued improvement in the claims data supports the irregularity of September’s weak nonfarm payroll which was heavily affected by recent natural disasters. Later today at 10:00 AM (PT), Treasury will auction $12 Billion in re-opened 30-Year bonds.

The curve has bull-flattened with the UST 10-Year down 2.1 bps from prior closing.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  10/09 No Data - - - - - -  
                   
  10/10 NFIB Small Business Optimism 03:00 Sep 105.00 103.00 105.30 -  
                   
  10/11 MBA Mortgage Applications 04:00 6 Oct - -2.10% -0.40% -  
                   
  10/11 JOLTS Job Openings 07:00 Aug 6125 6082 6170 6140  
                   
  10/11 FOMC Meeting Minutes 11:00 20 Sep - - - -  
                   
  10/12 PPI Final Demand MoM 05:30 Sep 0.40% 0.40% 0.20% -  
                   
  10/12 PPI Final Demand YoY 05:30 Sep 2.60% 2.60% 2.40% -  
                   
  10/12 Initial Jobless Claims 05:30 7 Oct 250k 243k 260k 258k  
                   
  10/12 Continuing Claims 05:30 30 Sep 1930k 1889k 1938k 1921k  
                   
  10/12 Bloomberg Consumer Comfort 06:45 8 Oct - 49.50 49.90 -  
                   
  10/13 CPI MoM 05:30 Sep 0.60% - 0.40% -  
                   
  10/13 CPI YoY 05:30 Sep 2.30% - 1.90% -  
                   
  10/13 Retail Sales Advance MoM 05:30 Sep 1.70% - -0.20% -  
                   
  10/13 U. of Mich. Sentiment 07:00 Oct P 95.00 - 95.10 -  
                   
  10/13 Business Inventories 07:00 Aug 0.40% - 0.20% -  
                   
 
 
 
 
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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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