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Market Commentary


 
Today's Coupons
 
  10-Year Notes   99-14.5 (-02)  
 
  FN 3.5% Coupon   103-0.5 (-0.5)  
 
  Support   2.397%  
 
  Resistance   2.035%  
 
 
 
 
Tuesday, October 17, 2017
 
 
Treasuries are slightly lower across the curve this morning from yesterday’s close. The UST 10-Year yield is currently at 2.314% after closing at 2.304% prior.

Yesterday treasury yields rose as investors digested comments from Fed officials, including Fed Chairwoman Yellen, that rate hikes were likely to continue at a gradual pace. This morning, treasury yields inched slightly higher upon the release of September’s Import Price Index, which came in firmer than expected, showing an increase of 0.70% versus 0.60% per consensus. September’s Export Price Index also came in stronger than expected, rising 0.80% in September versus an expected 0.50% increase per consensus.

We also received the Industrial Production print for September which came in line with expectations rising 0.30% following a revised 0.70% drop in August. Also on the calendar, we received the Capacity Utilization data for September, which rose to 76.00% from a downwardly revised 75.80% prior. Later today at 1:00 PM (PT), we will receive the August Total Net TIC Flows and Net Long-term TIC Flows.

The curve has bear-flattened with the UST 10-Year up 1.0 bp from prior closing.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  10/16 Empire Manufacturing 05:30 Oct 20.40 30.20 24.40 -  
                   
  10/17 Import Price Index MoM 05:30 Sep 0.60% 0.70% 0.60% -  
                   
  10/17 Import Price Index YoY 05:30 Sep 2.60% 2.70% 2.10% -  
                   
  10/17 Export Price Index MoM 05:30 Sep 0.50% 0.80% 0.60% 0.70%  
                   
  10/17 Export Price Index YoY 05:30 Sep - 2.90% 2.30% 2.40%  
                   
  10/17 Industrial Production MoM 06:15 Sep 0.30% 0.30% -0.90% -0.70%  
                   
  10/17 Capacity Utilization 06:15 Sep 76.20% 76.00% 76.10% 75.80%  
                   
  10/17 NAHB Housing Market Index 07:00 Oct 64.00 68.00 64.00 -  
                   
  10/17 Total Net TIC Flows 13:00 Aug - - -$7.30b -  
                   
  10/17 Net Long-term TIC Flows 13:00 Aug - - $1.30b -  
                   
  10/18 MBA Mortgage Applications 04:00 13 Oct - - -2.10% -  
                   
  10/18 Housing Starts 05:30 Sep 1175k - 1180k -  
                   
  10/18 Housing Starts MoM 05:30 Sep -0.40% - -0.80% -  
                   
  10/18 Building Permits 05:30 Sep 1245k - 1300k 1272k  
                   
  10/18 Building Permits MoM 05:30 Sep -2.10% - 5.70% 3.40%  
                   
  10/18 U.S. Federal Reserve Releases Beige Book 11:00 - - - - -  
                   
  10/19 Initial Jobless Claims 05:30 14 Oct 240k - 243k -  
                   
  10/19 Philadelphia Fed Business Outlook 05:30 Oct 22.00 - 23.80 -  
                   
  10/19 Continuing Claims 05:30 7 Oct 1890k - 1889k -  
                   
  10/19 Bloomberg Consumer Comfort 06:45 15 Oct - - 49.50 -  
                   
  10/19 Leading Index 07:00 Sep 0.10% - 0.40% -  
                   
  10/20 Existing Home Sales 07:00 Sep 5.30m - 5.35m -  
                   
  10/20 Existing Home Sales MoM 07:00 Sep -0.90% - -1.70% -  
                   
 
 
 
 
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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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