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Market Commentary

Market Commentary

November 5, 2013
10-YEAR NOTES   98-26.5 (-10) 2.636%
FN 3.5% COUPON   102-04.5 (-4)
SUPPORT   2.78%
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Overnight, the market sold-offduring Asia trading hours and thesell-off continued during theLondon session with UK PMIcoming in at the highest level in over 16 years. In the U.S., the sell-off continues with the curve 3 bpssteeper (2s10s) and 10-Year notesoff a quarter pointMBS are holding in well another 3-4 tics tighter vs. duration hedges as overnight locks at many originators were light and dealers go out looking for bonds to sell the Fed.

At 11:00 AM EST there is a UST buyback in the 2/36-8/43 sector and at 5:00 PM EST Fed President Williams will be speaking.

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This information is provided solely for informational use and is not intended as a trading or investment advice in any manner whatsoever. Sun West Mortgage Company, Inc. is not liscensed or registered broker or dealer and cannot provide investment strategies or recommendations. This information is provided to 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, price, guidelines, fees, costs, terms and conditions are subject to change without notice.