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Market Commentary


 
Today's Coupons
 
  10-Year Notes   97-13.5 (-08.5)  
 
  FN 3.5% Coupon   105-02 (-02)  
 
  Support   1.788%  
 
  Resistance   1.724%  
 
 
 
 
Wednesday, October 26, 2016
 
 
    The UST 10-Year yield is at 1.775% this morning after closing at 1.756% yesterday.

   Treasury yields are higher this morning after mostly mixed economic data. MBA Mortgage Applications were lower for the week with the index falling by 4.10%. The purchase index was down 6.90% and refinances decreased by 2.30%, a bright stop was that the average 30-Year fixed rate dropped from 3.730% to 3.710%. In other housing data, New Home Sales came in at 593K vs. 600K expected and last month's number of 609K was revised to 575K, month over month New Home Sales showed a 3.10% gain. Wholesale Inventories increased by 0.20% month over month and US Services PMI was strong at 54.80 vs. 52.50 expected. 

    For the rest of the week, 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-steepened with the UST 10-Year 1.9 bps up 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 - -4.10% 0.60% -  
                   
  10/26 Wholesale Inventories MoM 05:30 Sep P 0.10% 0.20% -0.20% -0.10%  
                   
  10/26 Markit US Services PMI 06:45 Oct P 52.50 54.80 52.30 -  
                   
  10/26 Markit US Composite PMI 06:45 Oct P - 54.90 52.30 -  
                   
  10/26 New Home Sales 07:00 Sep 600K 593K 609K 575K  
                   
  10/26 New Home Sales MoM 07:00 Sep -1.50% 3.10% -7.60% -8.60%  
                   
  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 255K - 260K -  
                   
  10/27 Continuing Claims 05:30 15 Oct 2052K - 2057K -  
                   
  10/27 Bloomberg Consumer Comfort 06:45 23 Oct - - 41.30 -  
                   
  10/27 Kansas City Fed Manf. Activity 08:00 Oct 3.00 - 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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