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Market Commentary

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Market Commentary


 
Today's Coupons
 
  10-Year Notes   97-24.5 (00)  
 
  FN 3.5% Coupon   105-06 (+0.5)  
 
  Support   1.812%  
 
  Resistance   1.718%  
 
 
 
 
Wednesday, October 19, 2016
 
 
     The UST 10-Year yield is at 1.750% this morning after closing at 1.738% on Tuesday.

    The market is relatively quiet this morning as investors await additional economic data and the results of the third Presidential debate tonight. MBA Mortgage Applications increased 0.60% week over week. Housing starts are weaker than expected at 1047K vs. 1175K expected, that is a -9.00% drop month over month. Building permits were 1225K vs. 1165K expected, a 6.30% increase month over month. Later today we have the Beige Book at 11:00 AM (PT) from the FED. San Francisco Fed President Williams and Dallas Fed President Kaplan are both expected to speak on the economy today. 

    On Thursday we have Jobless Claims and Existing Home Sales.

    The curve has bear-steepened with the UST 10-Year 1.2 bps up 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% 0.30% 0.20% -  
                   
  10/18 CPI YoY 05:30 Sep 1.50% 1.50% 1.10% -  
                   
  10/18 Real Avg Weekly Earnings YoY 05:30 Sep - 0.80% 0.40% -  
                   
  10/19 MBA Mortgage Applications 04:00 14 Oct - 0.60% -6.00% -  
                   
  10/19 Housing Starts 05:30 Sep 1175K 1047K 1142K 1150K  
                   
  10/19 Housing Starts MoM 05:30 Sep 2.90% -9.00% -5.80% -5.60%  
                   
  10/19 Building Permits 05:30 Sep 1165K 1225K 1139K 1152K  
                   
  10/19 Building Permits MoM 05:30 Sep 1.10% 6.30% -0.40% 0.70%  
                   
  10/20 Initial Jobless Claims 05:30 15 Oct 250K - 246K -  
                   
  10/20 Continuing Claims 05:30 8 Oct 2053K - 2046K -  
                   
  10/20 Philadelphia Fed Business Outlook 05:30 Oct 5.00 - 12.80 -  
                   
  10/20 Bloomberg Consumer Comfort 06:45 16 Oct - - 42.10 -  
                   
  10/20 Existing Home Sales 07:00 Sep 5.35 M - 5.33 M -  
                   
  10/20 Existing Home Sales MoM 07:00 Sep 0.40% - -0.90% -  
                   
  10/20 Leading Index 07:00 Sep 0.20% - -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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