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Market Commentary


 
Today's Coupons
 
  10-Year Notes   97-26.5 (+03)  
 
  FN 3.5% Coupon   105-07 (+01.5)  
 
  Support   1.812%  
 
  Resistance   1.724%  
 
 
 
 
Thursday, October 20, 2016
 
 
       The UST 10-Year yield is at 1.740% this morning after closing at 1.745% on Wednesday.

    Treasury yields are slightly lower this morning as investors pick up US bonds following the European Central Bank's decision to continue with its current QE policy until at least March of 2017. New York Fed President Bill Dudley said that the Fed is prepared to raise rates before 2017 if the data supports it.

    Initial Jobless Claims came in at 260K vs. 250K expected and Continuing Claims were 2057K vs. 2053K expected. The Philadelphia Fed Business Outlook survey was 9.70 vs. an expected 5.00. Existing home sales were strong at 5.47 Million vs. 5.35 Million expected, an increase of 3.20% month over month. The Leading Indicators Index came in line at 0.20% vs. 0.20% expected.

    The curve has bear-flattened with the UST 10-Year 0.5 bp down from prior closing and the UST 2-Year up 2 bps 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 260K 246K 247K  
                   
  10/20 Continuing Claims 05:30 8 Oct 2053K 2057K 2046K 2050K  
                   
  10/20 Philadelphia Fed Business Outlook 05:30 Oct 5.00 9.70 12.80 -  
                   
  10/20 Bloomberg Consumer Comfort 06:45 16 Oct - 41.30 42.10 -  
                   
  10/20 Existing Home Sales 07:00 Sep 5.35 M 5.47 M 5.33 M 5.30 M  
                   
  10/20 Existing Home Sales MoM 07:00 Sep 0.40% 3.20% -0.90% -1.50%  
                   
  10/20 Leading Index 07:00 Sep 0.20% 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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