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Market Commentary


 
Today's Coupons
 
  10-Year Notes   97-27.5 (+11.5)  
 
  FN 3.5% Coupon   105-04 (+02.5)  
 
  Support   1.797%  
 
  Resistance   1.667%  
 
 
 
 
Thursday, October 13, 2016
 
 
     The UST 10-Year yield is at 1.735% this morning after closing at 1.770% on Wednesday.

    Yesterday was an eventful day in the markets as the US Treasury successfully auctioned off $24 Billion 3-Year notes and $10 Billion 10-Year notes. Additionally, the FED released the minutes from September's FOMC meeting. The minutes revealed that several FOMC members saw a rate rise "relatively soon" and that a reasonable argument could be made to hike. 

    Today's economic data shows Initial Jobless claims at 246K actual vs. 253K expected. This is the lowest amount of claims since November of 1973. Continuing claims came in at 2046K vs. 2050K expected. For the rest of the week we have Retail Sales and PPI on Friday. The US will auction $12 Billion of 30-Year bonds later today.

     The curve has bull-flattened with the UST 10-Year 3.5 bps down 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 0.20% 0.10% -0.20% -  
                   
  10/13 Import Price Index YoY 05:30 Sep -1.00% -1.10% -2.20% -  
                   
  10/13 Initial Jobless Claims 05:30 8 Oct 253K 246K 249K 246K  
                   
  10/13 Continuing Claims 05:30 1 Oct 2050K 2046K 2058K 2062K  
                   
  10/13 Bloomberg Consumer Comfort 06:45 9 Oct - 42.10 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 0.10% - 0.00% -  
                   
  10/14 U. of Mich. Sentiment 07:00 Oct P 91.90 - 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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