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Market Commentary


 
Today's Coupons
 
  10-Year Notes   99-18 (+06)  
 
  FN 3.5% Coupon   103-01.5 (+02.5)  
 
  Support   2.397%  
 
  Resistance   2.016%  
 
 
 
 
Friday, October 13, 2017
 
 
Treasuries are moderately higher across the curve this morning from yesterday’s close. The UST 10-Year yield is currently at 2.293% after closing at 2.319% prior.

This morning we received the September CPI data which came below expectations at 0.50% versus 0.60% per consensus. Headline prices rose 0.10% more than August’s unchanged 0.40% rise, bringing the CPI YoY up to 2.20% versus 1.90% prior. CPI Excluding Food and Energy MoM rose just 0.10% following a 0.20% rise in August; CPI Excluding Food and Energy YoY held steady at 1.70%. We also received the Retail Sales Advance for September, which rose 1.60% following a revised 0.10% drop in August. Retail Sales Excluding Auto rose 1.00% following an upwardly revised 0.50% rise prior, while Retail Sales Excluding Auto and Gas rose 0.50% following an upwardly revised 0.10% increase prior.

There are a few Fed speakers scheduled this morning including Boston Fed President Rosengren who will discuss Monetary Policy, Chicago Fed President Evans who will speak on the Economy and Monetary Policy, and Dallas Fed President Kaplan who will participate in a moderated Q&A session in Boston.

The curve has bull-flattened with the UST 10-Year down 2.8 bps from prior closing.

Have A Wonderful Weekend!
 
 
   
 
   
 
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% 0.50% 0.40% -  
                   
  10/13 CPI YoY 05:30 Sep 2.30% 2.20% 1.90% -  
                   
  10/13 Retail Sales Advance MoM 05:30 Sep 1.70% 1.60% -0.20% -0.10%  
                   
  10/13 U. of Mich. Sentiment 07:00 Oct P 95.00 101.10 95.10 -  
                   
  10/13 Business Inventories 07:00 Aug 0.70% 0.70% 0.20% 0.30%  
                   
 
 
 
 
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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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