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Market Commentary


 
Today's Coupons
 
  10-Year Notes   97-05.5 (+05)  
 
  FN 3.5% Coupon   102-25.5 (-01)  
 
  Support   2.357%  
 
  Resistance   2.150%  
 
 
 
 
Monday, November 21, 2016
 
 
     The UST 10-Year yield is at 2.324% this morning after closing at 2.356% Friday.

    Today, bonds are seeing a break from the continued sell-off since election week. The needed recovery comes after the yield on the 10-Year Treasury note reached a near 12 month high at 2.326% last Friday. The average 30-Year mortgage rate is now at 4.125%.

    The only economic data being release today is the Chicago Fed National Activity Index, which draws on 85 economic indicators; it was released this morning at -0.08, an improvement in U.S. economic activity from September’s reading of -0.23.

   In the overnight session, oil prices rise after Russian President Vladimir Putin discussed the possibility of freezing oil output for the first time in 8 years.

     The curve has bull-flattened with the UST 10-Year 0.3 bp down from prior closing.

 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  11/21 Chicago Fed Nat Activity Index 05:30 Oct 0.00 -0.08 -0.14 -0.23  
                   
  11/22 Richmond Fed Manufact. Index 07:00 Nov 0.00 - -4.00 -  
                   
  11/22 Existing Home Sales 07:00 Oct 5.44 M - 5.47 M -  
                   
  11/22 Existing Home Sales MoM 07:00 Oct -0.60% - 3.20% -  
                   
  11/23 MBA Mortgage Applications 04:00 18 Nov - - -9.20% -  
                   
  11/23 Durable Goods Orders 05:30 Oct P 1.50% - -0.30% -  
                   
  11/23 Durables Ex Transportation 05:30 Oct P 0.20% - 0.10% -  
                   
  11/23 Initial Jobless Claims 05:30 19 Nov 250K - 235K -  
                   
  11/23 Continuing Claims 05:30 12 Nov 2008K - 1977K -  
                   
  11/23 FHFA House Price Index MoM 06:00 Sep 0.60% - 0.70% -  
                   
  11/23 Bloomberg Consumer Comfort 06:45 20 Nov - - 45.40 -  
                   
  11/23 Markit US Manufacturing PMI 06:45 Nov P 53.50 - 53.40 -  
                   
  11/23 U. of Mich. Sentiment 07:00 Nov F 91.60 - 91.60 -  
                   
  11/23 FOMC Meeting Minutes 11:00 2 Nov - - - -  
                   
  11/24 No Data - - - - - -  
                   
  11/25 Wholesale Inventories MoM 05:30 Oct P 0.20% - 0.10% -  
                   
  11/25 Markit US Services PMI 06:45 Nov P 54.70 - 54.80 -  
                   
  11/25 Markit US Composite PMI 06:45 Nov P - - 54.90 -  
                   
 
 
 
 
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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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