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Market Commentary


 
Today's Coupons
 
  10-Year Notes   97-24.5 (-08)  
 
  FN 3.5% Coupon   103-13.5 (-02.5)  
 
  Support   2.283%  
 
  Resistance   1.718%  
 
 
 
 
Thursday, November 17, 2016
 
 
     The UST 10-Year yield is at 2.243% this morning after closing at 2.223% yesterday.

    Treasury yields hiked up this morning after Fed Chair Yellen signaled to the possibility that the FED is close to increasing interest rates "relatively soon if incoming data provide some further evidence of continued progress toward the committee's objectives," said Yellen this morning before the Congress's Joint Economic Committee.

    In Economic Data, Housing Starts had a 25.50% increase from September to 1323K, the biggest MoM increase seen since July 1982. Building Permits had a slight increase in October to 1229K from 1225K the month prior. October's CPI MoM data came in as economist forecasted, 0.40%, and CPI Ex Food and Energy MoM was unchanged for the 4th consecutive month. Initial Jobless Claims numbers were better than expected, coming in at 235K, lowest levels since June. Continuing Claims were also better than expected at 1977K for the previous week.

     The curve has bear-steepened with the UST 10-Year 0.2 bp up 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 - -9.20% -1.20% -  
                   
  11/16 PPI Final Demand MoM 05:30 Oct 0.30% 0.00% 0.30% -  
                   
  11/16 PPI Final Demand YoY 05:30 Oct 1.20% 0.80% 0.70% -  
                   
  11/16 Industrial Production MoM 06:15 Oct 0.20% 0.00% 0.10% -0.20%  
                   
  11/16 Capacity Utilization 06:15 Oct 75.50% 75.30% 75.40% -  
                   
  11/16 NAHB Housing Market Index 07:00 Nov 63.00 - 63.00 -  
                   
  11/17 Housing Starts 05:30 Oct 1156K 1323K 1047K 1054K  
                   
  11/17 Housing Starts MoM 05:30 Oct 10.40% 25.50% -9.00% -9.50%  
                   
  11/17 Building Permits 05:30 Oct 1193K 1229K 1225K -  
                   
  11/17 Building Permits MoM 05:30 Oct -2.70% 0.30% 6.30% -  
                   
  11/17 CPI MoM 05:30 Oct 0.40% 0.40% 0.30% -  
                   
  11/17 CPI YoY 05:30 Oct 1.60% 1.60% 1.50% -  
                   
  11/17 Initial Jobless Claims 05:30 12 Nov 257K 235K 254K -  
                   
  11/17 Continuing Claims 05:30 5 Nov 2030K 1977K 2041K 2043K  
                   
  11/17 Real Avg Weekly Earnings YoY 05:30 Oct - 0.90% 0.80% 0.90%  
                   
  11/17 Bloomberg Consumer Comfort 06:45 13 Nov - - 45.10 -  
                   
  11/18 Leading Index 07:00 Oct 0.10% - 0.20% -  
                   
  11/18 Kansas City Fed Manf. Activity 08:00 Nov - - 6.00 -  
                   
 
 
 
 
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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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