Back to top

Market Commentary

Home
Market Commentary


 
Today's Coupons
 
  10-Year Notes   100-21.5 (+04.5)  
 
  FN 3.5% Coupon   97-21 (00)  
 
  Support   3.237%  
 
  Resistance   3.039%  
 
 
 
 
Tuesday, November 20, 2018
 
 
Treasuries are slightly higher across the curve this morning from yesterday's close. The UST 10-Year yield is currently at 3.045% after closing at 3.064% prior.

Treasuries opened higher as global stocks extended Monday's declines amid tech shares sell-off led by Apple and Facebook. The data privacy controversy surrounding social media giant Facebook dragged down U.S. stocks, while every member of the FANG cohort declined at least 1.50 percent. Additionally, Apple slumped 2.70 percent on news that it would cut production orders for the three new iPhone models unveiled in September. U.S. equity futures struggled to reverse losses overnight and added to the risk-off mood of the markets as investors remained anxious over trade. Meanwhile, the dollar edged higher and havens advanced as both treasuries and gold strengthened; the 10-Year yield fell to its lowest level since September.

On the economic calendar, we received more housing reports that showed Housing Starts rebounded after the recent hurricanes in October. Housing Starts rose 1.50% MoM to a 1228k unit rate as expected following a revised 1210k unit rate in September. Building Permits fell 0.60% MoM to a 1263k unit rate from an upwardly revised 1270k unit rate prior; September's data was originally released at 1241k unit rate. Single-family starts fell 1.80% in October after declining 1.00% in September, while multi-family starts rose 10.30% following a 15.60% decline in September. The improvement in total starts was mainly driven by the gains in multi-family.

The curve has bull-flattened with the UST 10-Year yield down 1.9 bps from prior closing.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  11/19 NAHB Housing Market Index 07:00 Nov 67.00 60.00 68.00 -  
                   
  11/20 Housing Starts 05:30 Oct 1228k 1228k 1201k 1210k  
                   
  11/20 Housing Starts MoM 05:30 Oct 2.20% 1.50% -5.30% -5.50%  
                   
  11/20 Building Permits 05:30 Oct 1260k 1263k 1241k 1270k  
                   
  11/20 Building Permits MoM 05:30 Oct -0.80% -0.60% -0.60% 1.70%  
                   
  11/21 MBA Mortgage Applications 04:00 16 Nov - - -3.20% -  
                   
  11/21 Durable Goods Orders 05:30 Oct P -2.60% - 0.70% -  
                   
  11/21 Durables Ex Transportation 05:30 Oct P 0.40% - 0.00% -  
                   
  11/21 Initial Jobless Claims 05:30 17 Nov 215k - 216k -  
                   
  11/21 Continuing Claims 05:30 10 Nov 1650k - 1676k -  
                   
  11/21 Bloomberg Consumer Comfort 06:45 18 Nov - - 60.50 -  
                   
  11/21 Leading Index 07:00 Oct 0.10% - 0.50% -  
                   
  11/21 U. of Mich. Sentiment 07:00 Nov F 98.30 - 98.30 -  
                   
  11/21 Existing Home Sales 07:00 Oct 5.20m - 5.15m -  
                   
  11/21 Existing Home Sales MoM 07:00 Oct 1.00% - -3.40% -  
                   
  11/22 No Data - - - - - -  
                   
  11/23 Markit US Manufacturing PMI 06:45 Nov P 55.70 - 55.70 -  
                   
  11/23 Markit US Services PMI 06:45 Nov P 55.00 - 54.80 -  
                   
  11/23 Markit US Composite PMI 06:45 Nov P - - 54.90 -  
                   
 
 
 
 
Helpful Links
  Visit Us Online   Submit Loan  
  Get Approved   SeeMyLoanStatusTM  
  Download Rate Sheet   Conventional Program Guidelines  
  Price & Lock   Government Program Guidelines  
 
 
   
 
  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  
 
©2019 Sun West Mortgage Company, Inc. All Rights Reserved