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Market Commentary

Market Commentary

Today's Coupons
  10-Year Notes   95-31.5 (-25.5)  
  FN 3.5% Coupon   104-21 (-08.5)  
  Support   1.961%  
  Resistance   1.716%  
Wednesday, November 9, 2016
    The UST 10-Year yield is at 1.941% this morning after closing at 1.855% on Tuesday.

   Treasury yields are sharply higher this morning after Donald Trump's historic upset of Hillary Clinton to become the 45th president of the United States. Rates are higher because investors predict that Trump's policies regarding Tax cuts and infrastructure spending may expand the US balance sheet. Another possibility is Trump will use of fiscal stimulus to grow the economy now that the Republicans have control of both the White House and Congress. 

    This morning we had MBA Mortgage Applications which came in at -1.20% week over week and later today will be Wholesale Inventories. Thursday we have Initial Jobless Claims, Continuing Claims, Bloomberg Consumer Comfort and Monthly Budget Statement. Friday just has the University of Michigan Sentiment survey.

    The curve has bear-steepened with the UST 10-Year 8.6 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% -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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