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Market Commentary

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Market Commentary


 
Today's Coupons
 
  10-Year Notes   97-17.5 (+05.5)  
 
  FN 3.5% Coupon   105-02.5 (+01)  
 
  Support   1.812%  
 
  Resistance   1.718%  
 
 
 
 
Monday, October 17, 2016
 
 
     The UST 10-Year yield is at 1.770% this morning after closing at 1.798% on Friday.

    Treasuries prices have rebounded from a four month low after weak data this morning. Empire manufacturing came in at -6.80 while the consensus expectation was 1.00. Capacity Utilization was 75.40% vs. an expected 75.60%. While these are just a few data points, additional bad economic data could lead to extended accommodation from the FED.

    Later this week we have CPI on Tuesday, Mortgage Applications and Housing Starts on Wednesday and Jobless Claims and Existing Home Sales on Friday. Fed Vice Chairman Stanley Fischer is scheduled to speak later today.   

     The curve has bull-flattened with the UST 10-Year 2.8 bps down from prior closing.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  10/17 Empire Manufacturing 05:30 Oct 1.00 -6.80 -2.00 -  
                   
  10/17 Industrial Production MoM 06:15 Sep 0.10% 0.10% -0.40% -0.50%  
                   
  10/17 Capacity Utilization 06:15 Sep 75.60% 75.40% 75.50% 75.30%  
                   
  10/18 CPI MoM 05:30 Sep 0.30% - 0.20% -  
                   
  10/18 CPI YoY 05:30 Sep 1.50% - 1.10% -  
                   
  10/18 Real Avg Weekly Earnings YoY 05:30 Sep - - 0.40% -  
                   
  10/19 MBA Mortgage Applications 04:00 14 Oct - - -6.00% -  
                   
  10/19 Housing Starts 05:30 Sep 1175K - 1142K -  
                   
  10/19 Housing Starts MoM 05:30 Sep 2.90% - -5.80% -  
                   
  10/19 Building Permits 05:30 Sep 1165K - 1139K 1152K  
                   
  10/19 Building Permits MoM 05:30 Sep 1.10% - -0.40% 0.70%  
                   
  10/20 Initial Jobless Claims 05:30 15 Oct - - - -  
                   
  10/20 Continuing Claims 05:30 8 Oct - - - -  
                   
  10/20 Philadelphia Fed Business Outlook 05:30 Oct - - 12.80 -  
                   
  10/20 Bloomberg Consumer Comfort 06:45 16 Oct - - - -  
                   
  10/20 Existing Home Sales 07:00 Sep - - 5.33 M -  
                   
  10/20 Existing Home Sales MoM 07:00 Sep - - -0.90% -  
                   
  10/20 Leading Index 07:00 Sep - - -0.20% -  
                   
  10/21 No Data - - - - - -  
                   
 
 
 
 
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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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