Back to top

Market Commentary

Home
Market Commentary


 
Today's Coupons
 
  10-Year Notes   97-14 (+07)  
 
  FN 3.5% Coupon   105-02.5 (+01.5)  
 
  Support   1.876%  
 
  Resistance   1.771%  
 
 
 
 
Friday, November 4, 2016
 
 
The UST 10-Year yield is at 1.773% this morning after closing at 1.814% yesterday.

Yields are lower this morning after a mixed jobs report and the continued uncertainty of the US election causes investors to flee to safer assets. Today's Nonfarm Payrolls headline number was disappointing at 161K vs. 173K expected, the prior month's number however was revised from 156K to 191K. The good news was that wages grew 2.80% year over year compared to an estimated 2.60% and the unemployment rate fell to 4.90%. Short term yields, which are most sensitive to the Fed Funds Rate, were lower following the report suggesting that the market continues to believe the FED will raise rates in December.

Next week, there is very limited economic data but the entire world will be awaiting the results of the 2016 US Presidential election on Tuesday November 8th.

The curve has bull-flattened with the UST 10-Year 3.9 bps lower from prior closing.

Have A Marvellous Weekend!

 
 
   
 
   
 
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 53.40 53.20 -  
                   
  11/01 Construction Spending MoM 07:00 Sep 0.50% -0.40% -0.70% -0.50%  
                   
  11/01 ISM Manufacturing 07:00 Oct 51.70 51.90 51.50 -  
                   
  11/02 MBA Mortgage Applications 04:00 28 Oct - -1.20% -4.10% -  
                   
  11/02 ADP Employment Change 05:15 Oct 165K 147K 154K 202K  
                   
  11/02 ISM New York 06:45 Oct - 49.20 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 - -39.10% -24.70% -  
                   
  11/03 Nonfarm Productivity 05:30 3Q P 2.10% 3.10% -0.60% -0.20%  
                   
  11/03 Initial Jobless Claims 05:30 29 Oct 256K 265K 258K -  
                   
  11/03 Continuing Claims 05:30 22 Oct 2043K 2026K 2039K 2040K  
                   
  11/03 Markit US Services PMI 06:45 Oct F 54.80 54.80 54.80 -  
                   
  11/03 Markit US Composite PMI 06:45 Oct F - 54.90 54.90 -  
                   
  11/03 Bloomberg Consumer Comfort 06:45 30 Oct - 44.60 43.90 -  
                   
  11/03 Durable Goods Orders 07:00 Sep F -0.10% -0.30% -0.10% -  
                   
  11/03 Durables Ex Transportation 07:00 Sep F 0.10% 0.10% 0.20% -  
                   
  11/04 Trade Balance 05:30 Sep -$38.00 B -$36.40 B -$40.70 B -$40.50 B  
                   
  11/04 Change in Nonfarm Payrolls 05:30 Oct 173K 161K 156K 191K  
                   
  11/04 Unemployment Rate 05:30 Oct 4.90% 4.90% 5.00% -  
                   
  11/04 Average Hourly Earnings MoM 05:30 Oct 0.30% 0.40% 0.20% 0.30%  
                   
  11/04 Average Hourly Earnings YoY 05:30 Oct 2.60% 2.80% 2.60% 2.70%  
                   
  11/04 Underemployment Rate 05:30 Oct - 9.50% 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