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Market Commentary


 
 
Today's Coupons
 
  10-Year Notes   97-25 (-09)  
 
  FN 2.5% Coupon   104-05.5 (+00.5)  
 
  Support   0.747%  
 
  Resistance   0.599%  
 
 
 
 
  Friday, October 30, 2020
 
 

Treasury Yields Rise As Personal Income Increased In October

 
 
Market opened today's session with treasuries lower across all maturities. 10-Year Treasury yield is at 0.8535, 3.05 bps increased from prior closing of 0.8230.
Market opened lower this morning as tech giants presented underwhelming earnings. Tech-centric Nasdaq 100 led early losses after Apple and Twitter Inc. failed to meet iphone sales and user growth targets, respectively. Alternatively, Alphabet Inc. saw gains on the back of a reported increase in digital advertising. Elsewhere, WTI crude fell to $35.84 a barrel while gold increased by 1.1%. On the economic front, Personal Income and Spending both beat expectations after reporting increases of 0.90% and 1.40%, respectively. September's figures highlight a recovering economy with Americans returning to work after seeing incomes decline 2.5% in the month prior. The central bank continues to signal it will hold rates near zero through 2023, with little anticipation inflation will pose a threat. Elsewhere, the MNI Chicago PMI reported at 61.10, greater than the 58.00 level expected, with the report itself indicative of an expanding economy for the month of October. Reporting next week on Wednesday is Trade Balance with expectations set at -$64.30 billion for the month of September. FOMC rate decision will be reported on Thursday.
The curve has bear-steepened with UST 10-Year yield up 3.05 bps.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  10/26 Chicago Fed Nat Activity Index 05:30 Sep 0.73 0.27 0.79 1.11  
                   
  10/26 Dallas Fed Manf. Activity 07:30 Oct 13.50 19.80 13.60 -  
                   
  10/27 Durable Goods Orders 05:30 Sep P 0.50% 1.90% 0.50% 0.40%  
                   
  10/27 S&P CoreLogic CS 20-City MoM SA 06:00 Aug 0.50% 0.47% 0.55% 0.75%  
                   
  10/27 S&P CoreLogic CS 20-City YoY NSA 06:00 Aug 4.20% 5.18% 3.95% 4.12%  
                   
  10/27 Conf. Board Consumer Confidence 07:00 Oct 102.00 100.90 101.80 101.30  
                   
  10/28 MBA Mortgage Applications  04:00 23 Oct - 1.70% -0.60%  -  
                   
  10/29 Initial Jobless Claims 05:30 24 Oct 770k 751k 787k 791k  
                   
  10/29 Continuing Claims 05:30 17 Oct 7775k 7756k 8373k 8465k  
                   
  10/29 GDP Annualized QoQ 05:30 3Q A 32.00% 33.10% -31.40% -  
                   
  10/29 GDP Price Index 05:30 3Q A 2.90% 3.60% -1.80% -  
                   
  10/29 Bloomberg Consumer Comfort 06:45 25 Oct - 46.30 46.60 -  
                   
  10/30 PCE Deflator MoM 05:30 Sep 0.20% 0.20% 0.30% -  
                   
  10/30 PCE Deflator YoY 05:30 Sep 1.50% 1.40% 1.40% 1.30%  
                   
  10/30 U. of Mich. Sentiment 07:00 Oct F 81.20 81.80 81.20 -
                   
 
 
 
 
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  This information is provided solely for informational use and is not intended as an advice for trading or investment purposes 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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