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Market Commentary

Market Commentary

Today's Coupons
  10-Year Notes   97-04.5 (-10.5)  
  FN 3.5% Coupon   105-01.5 (-01)  
  Support   1.876%  
  Resistance   1.769%  
Monday, November 7, 2016
    The UST 10-Year yield is at 1.817% this morning after closing at 1.776% on Friday.

   Yields are higher this morning after the FBI re-cleared Hilary Clinton and polls have established her as the favorite going into tomorrow's Presidential Election. Investors reversed Friday's trade by buying equities and selling fixed income assets, feeling confident that some of the uncertainty that comes with a Trump victory has been reduced over the weekend.

   This week is light on economic data. This morning we had Labor Market Conditions Index which came in at 0.70 vs. an expected -1.50, later today Consumer Credit will be released. Tuesday is the Presidential Election. Wednesday has MBA mortgage applications and Wholesale Inventories.

    The curve has bear-steepened with the UST 10-Year 4.1 bps higher from prior closing.

This Week's Events
  11/07 Labor Market Conditions Index 07:00 Oct -1.50 0.70 -2.20 -0.10  
  11/08 NFIB Small Business Optimism 03:00 Oct 94.10 - 94.10 -  
  11/08 JOLTS Job Openings 07:00 Sep 5475 - 5443 -  
  11/09 MBA Mortgage Applications 04:00 4 Nov - - -1.20% -  
  11/09 Wholesale Inventories MoM 07:00 Sep F 0.20% - 0.20% -  
  11/09 Wholesale Trade Sales MoM 07:00 Sep 0.50% - 0.70% -  
  11/10 Initial Jobless Claims 05:30 5 Nov 260K - 265K -  
  11/10 Continuing Claims 05:30 29 Oct 2025K - 2026K -  
  11/10 Bloomberg Consumer Comfort 06:45 6 Nov - - 44.60 -  
  11/10 Monthly Budget Statement 11:00 Oct -$80.00 B - -$136.60 B -  
  11/11 U. of Mich. Sentiment 07:00 Nov P 88.00 - 87.20 -  
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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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