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Market Commentary


 
Today's Coupons
 
  10-Year Notes   98-00 (-0.5)  
 
  FN 3.5% Coupon   103-10.5 (+02.5)  
 
  Support   2.281%  
 
  Resistance   1.718%  
 
 
 
 
Tuesday, November 15, 2016
 
 
    The UST 10-Year yield is at 2.218% this morning after closing at 2.262% yesterday.

   Treasury yields are slightly lower this morning after reaching 2.262%, the highest closing since January. The surge continues to be driven by speculations on whether the new president-elect spending plans will boost inflation and increase the size of the U.S. debt.
 

    Economic data came in strong this morning, starting with the Empire Manufacturing Index turning positive for the first time in four months, the index was released at 1.50 vs. -6.80 prior, due to an increase in new orders and shipments in the month of October. Retail Sales continued to climb reaching a 2 month high, not seen since early 2014. Sales surged to 0.80%, a 0.20% increase from September. A 1.50% increase in internet-retail sales was a contributor as well a 1.10% rise in auto-sales. Retail Sales Ex Auto and Gas rose to 0.60% vs. 0.30% prior.
 

   The Import Price Index MoM in October was stronger than the expected 0.40%, coming in at 0.50% this morning from the upwardly revised 0.20% increase in September.?

    The curve has bull-flattened with the UST 10-Year 4.4 bps down from prior closing.

 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  11/14 No Change - - - - - -  
                   
  11/15 Import Price Index MoM 05:30 Oct 0.40% 0.50% 0.10% 0.20%  
                   
  11/15 Empire Manufacturing 05:30 Nov -2.50 1.50 -6.80 -  
                   
  11/15 Import Price Index YoY 05:30 Oct -0.30% -0.20% -1.10% -1.00%  
                   
  11/15 Retail Sales Advance MoM 05:30 Oct 0.60% 0.80% 0.60% 1.00%  
                   
  11/15 Business Inventories 07:00 Sep 0.20% 0.10% 0.20% -  
                   
  11/16 MBA Mortgage Applications 04:00 11 Nov - - -1.20% -  
                   
  11/16 PPI Final Demand MoM 05:30 Oct 0.30% - 0.30% -  
                   
  11/16 PPI Final Demand YoY 05:30 Oct 1.20% - 0.70% -  
                   
  11/16 Industrial Production MoM 06:15 Oct 0.20% - 0.10% -  
                   
  11/16 Capacity Utilization 06:15 Oct 75.50% - 75.40% -  
                   
  11/16 NAHB Housing Market Index 07:00 Nov 63.00 - 63.00 -  
                   
  11/17 Housing Starts 05:30 Oct - - 1047K -  
                   
  11/17 Housing Starts MoM 05:30 Oct - - -9.00% -  
                   
  11/17 Building Permits 05:30 Oct - - 1225K -  
                   
  11/17 Building Permits MoM 05:30 Oct - - 6.30% -  
                   
  11/17 CPI MoM 05:30 Oct - - 0.30% -  
                   
  11/17 CPI YoY 05:30 Oct - - 1.50% -  
                   
  11/17 Initial Jobless Claims 05:30 12 Nov - - - -  
                   
  11/17 Continuing Claims 05:30 5 Nov - - - -  
                   
  11/17 Real Avg Weekly Earnings YoY 05:30 Oct - - 0.80% -  
                   
  11/17 Bloomberg Consumer Comfort 06:45 13 Nov - - - -  
                   
  11/18 Leading Index 07:00 Oct - - 0.20% -  
                   
  11/18 Kansas City Fed Manf. Activity 08:00 Nov - - - -  
                   
 
 
 
 
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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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