Back to top

Market Commentary

Home
Market Commentary


 
Today's Coupons
 
  10-Year Notes   97-01 (+03.5)  
 
  FN 3.5% Coupon   105-00 (+0.5)  
 
  Support   1.872%  
 
  Resistance   1.724%  
 
 
 
 
Monday, October 31, 2016
 
 
    The UST 10-Year yield is at 1.827% this morning after closing at 1.847% on Friday.

  Treasury yields are lower this morning after today's weaker than expected economic data. Personal Income came in at 0.30% vs. 0.40% expected, Personal Spending was 0.50% vs. 0.40% expected but the Chicago Purchasing Manager was only 50.60 vs. an expected 54.00. Later this week, we have the November FOMC but the market is pricing in almost no chance of a hike. Expect to see some volatility in rates caused by the reopening of the FBI investigation into Hillary Clinton and any other headlines from the last full week before the election.  

  On Tuesday, US manufacturing PMI and ISM Manufacturing will be released. Wednesday has Mortgage Applications and ADP as well as the November FOMC. Thursday has Jobless Claims, Factory Orders and Durable Goods Orders. Friday brings us the October Nonfarm Payroll Report and Trade Balance.

    The curve has bull-flattened with the UST 10-Year 2.0 bps down from prior closing.

 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  10/31 Personal Income 06:45 Sep 0.40% 0.30% 0.20% -  
                   
  10/31 Personal Spending 06:45 Sep 0.40% 0.50% 0.00% -0.10%  
                   
  10/31 PCE Deflator MoM 06:45 Sep 0.20% 0.20% 0.10% 0.20%  
                   
  10/31 PCE Deflator YoY 06:45 Sep 1.20% 1.20% 1.00% -  
                   
  10/31 PCE Core MoM 06:45 Sep 0.10% 0.10% 0.20% -  
                   
  10/31 PCE Core YoY 06:45 Sep 1.70% 1.70% 1.70% -  
                   
  10/31 Dallas Fed Manf. Activity 06:45 Oct 2.00 - -3.70 -  
                   
  11/01 Markit US Manufacturing PMI 06:45 Oct F 53.20 - 53.20 -  
                   
  11/01 Construction Spending MoM 07:00 Sep 0.50% - -0.70% -  
                   
  11/01 ISM Manufacturing 07:00 Oct 51.70 - 51.50 -  
                   
  11/02 MBA Mortgage Applications 04:00 28 Oct - - -4.10% -  
                   
  11/02 ADP Employment Change 05:15 Oct 165K - 154K -  
                   
  11/02 ISM New York 06:45 Oct - - 49.60 -  
                   
  11/02 FOMC Rate Decision (Upper Bound) 11:00 2 Nov 0.50% - 0.50% -  
                   
  11/02 FOMC Rate Decision (Lower Bound) 11:00 2 Nov 0.25% - 0.25% -  
                   
  11/03 Challenger Job Cuts YoY 04:30 Oct - - -24.70% -  
                   
  11/03 Nonfarm Productivity 05:30 3Q P 1.60% - -0.60% -  
                   
  11/03 Initial Jobless Claims 05:30 29 Oct - - - -  
                   
  11/03 Continuing Claims 05:30 22 Oct - - - -  
                   
  11/03 Markit US Services PMI 06:45 Oct F - - 54.80 -  
                   
  11/03 Markit US Composite PMI 06:45 Oct F - - 54.90 -  
                   
  11/03 Bloomberg Consumer Comfort 06:45 30 Oct - - - -  
                   
  11/03 Durable Goods Orders 07:00 Sep F - - - -  
                   
  11/03 Durables Ex Transportation 07:00 Sep F - - - -  
                   
  11/04 Trade Balance 05:30 Sep -$42.00 B - -$40.70 B -  
                   
  11/04 Change in Nonfarm Payrolls 05:30 Oct 165K - 156K -  
                   
  11/04 Unemployment Rate 05:30 Oct 4.90% - 5.00% -  
                   
  11/04 Average Hourly Earnings MoM 05:30 Oct 0.30% - 0.20% -  
                   
  11/04 Average Hourly Earnings YoY 05:30 Oct - - 2.60% -  
                   
  11/04 Underemployment Rate 05:30 Oct - - 9.70% -  
                   
 
 
 
 
Helpful Links
  Visit Us Online   Submit Loan  
  Get Approved   Resolve Loan Conditions  
  Download Rate Sheet   Conventional Program Guidelines  
  Price & Lock   Government Program Guidelines  
 
 
   
 
  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  
 
©2016 Sun West Mortgage Company, Inc. All Rights Reserved