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Market Commentary


 
Today's Coupons
 
  10-Year Notes   97-23.5 (+03)  
 
  FN 3.5% Coupon   105-04.5 (-0.5)  
 
  Support   1.812%  
 
  Resistance   1.724%  
 
 
 
 
Tuesday, October 25, 2016
 
 
    The UST 10-Year yield is at 1.759% this morning after closing at 1.764% yesterday.

    Treasury yields are unchanged this morning after a mixed bag of economic data. The FHFA House Price Index surprised to the upside showing a 0.70% gain month over month vs. 0.40% expected. This was offset by the Consumer Confidence Index which was 98.60 vs. 101.50 expected. Yesterday, Chicago Fed President Charles Evans said he supports a rate hike later this year and "a few" in 2017. Market consensus is that the rate hike will occur in December. The Treasury will auction $26 Billion in 2-Year Treasury notes later today. 

    For the rest of the week, Wednesday there is MBA Mortgage Applications, US Services PMI and New Home Sales. Thursday has Durable Goods and Jobless Claims numbers. Friday brings us the Employment Cost Index, a first look at Q3 GDP, Personal Consumption and the University of Michigan Consumer Sentiment Index. 

    The curve has bear-flattened with the UST 2-Year 1 bp up from prior closing and the UST 10-Year 0.5 bp down from from prior closing.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  10/24 Chicago Fed Nat Activity Index 05:30 Sep -0.13 -0.14 -0.55 -0.72  
                   
  10/24 Markit US Manufacturing PMI 06:45 Oct P 51.50 53.20 51.50 -  
                   
  10/25 FHFA House Price Index MoM 06:00 Aug 0.40% 0.70% 0.50% -  
                   
  10/25 Consumer Confidence Index 07:00 Oct 101.50 98.60 104.10 103.50  
                   
  10/25 Richmond Fed Manufact. Index 07:00 Oct -4.00 -4.00 -8.00 -  
                   
  10/26 MBA Mortgage Applications 04:00 21 Oct - - 0.60% -  
                   
  10/26 Wholesale Inventories MoM 05:30 Sep P 0.10% - -0.20% -  
                   
  10/26 Markit US Services PMI 06:45 Oct P 52.50 - 52.30 -  
                   
  10/26 Markit US Composite PMI 06:45 Oct P - - 52.30 -  
                   
  10/26 New Home Sales 07:00 Sep 600K - 609K -  
                   
  10/26 New Home Sales MoM 07:00 Sep -1.50% - -7.60% -  
                   
  10/27 Durable Goods Orders 05:30 Sep P 0.00% - 0.10% -  
                   
  10/27 Durables Ex Transportation 05:30 Sep P 0.20% - -0.20% -  
                   
  10/27 Initial Jobless Claims 05:30 22 Oct - - - -  
                   
  10/27 Continuing Claims 05:30 15 Oct - - - -  
                   
  10/27 Bloomberg Consumer Comfort 06:45 23 Oct - - - -  
                   
  10/27 Kansas City Fed Manf. Activity 08:00 Oct - - 6.00 -  
                   
  10/28 GDP Annualized QoQ 05:30 3Q A - - 1.40% -  
                   
  10/28 Personal Consumption 05:30 3Q A - - 4.30% -  
                   
  10/28 GDP Price Index 05:30 3Q A - - 2.30% -  
                   
  10/28 Core PCE QoQ 05:30 3Q A - - 1.80% -  
                   
  10/28 U. of Mich. Sentiment 07:00 Oct F - - - -  
                   
 
 
 
 
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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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