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Market Commentary

Market Commentary

Today's Coupons
  10-Year Notes   97-02 (-0.5)  
  FN 3.5% Coupon   105-00 (-01.5)  
  Support   1.876%  
  Resistance   1.769%  
Tuesday, November 8, 2016
    The UST 10-Year yield is at 1.858% this morning after closing at 1.826% on Monday.

    Rates are higher this morning as investors await the results of one of the most important presidential elections in recent history. Most polls show Hilary Clinton with a slight lead over Donald Trump. A Clinton victory represents the status quo and likely leads to a FED rate hike in December. A Trump victory introduces additional uncertainty to the market and could cause the FED to hold if equities and other asset classes sell off significantly. 

    This morning the NFIB Small Business Optimism number came in at 94.90 vs. 94.10 and later we will have JOLTS Job Openings. Wednesday has MBA mortgage applications and Wholesale Inventories. Thursday has Initial Jobless claims, Continuing claims, Bloomberg Consumer Comfort and the Monthly Budget Statement. Friday just has the University of Michigan Sentiment survey.

    The curve has bear-steepened with the UST 10-Year 3.2 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 94.90 94.10 -  
  11/08 JOLTS Job Openings 07:00 Sep 5488 - 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 -$75.00 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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