Back to top

Market Commentary

Home
Market Commentary


 
Today's Coupons
 
  10-Year Notes   99-12.5 (+03.5)  
 
  FN 3.5% Coupon   102-29 (+02.5)  
 
  Support   2.472%  
 
  Resistance   2.296%  
 
 
 
 
Tuesday, November 28, 2017
 
 
Treasuries moved marginally higher across the curve this morning from yesterday’s close. The UST 10-Year yield is currently at 2.335% after closing at 2.343% during the prior session.

This morning we received the Advanced Goods Trade Balance for October, which declined by $68.30 Billion compared to an expected decline of $64.90 and a decline of $64.10 Billion during its last period. The trade deficit increase was led by a 1.00% drop in exports during the period as compared to September. Also this morning, we received the preliminary Wholesale Inventories for October, which fell 0.40% month-over-month following a downwardly revised 0.10% rise in September; Retail Inventories fell 0.10% in October following a drop of 0.90% (revised) in September. Further, the House Price Index month-over-month for September registered a 0.30% change against a survey of 0.50% and a revised mark of 0.80% for its prior period. Lastly, we received the S&P Case-Schiller 20-City Home Price Index, which registered a month-over-month change of 0.52% for September against a survey of 0.30% and a revised prior mark of 0.44%.

In other economic news, appointed Fed Chair Jerome Powell is facing a Senate panel this morning as his confirmation hearing took off at 6:45 AM (PT). Policymakers and the market will have a chance to understand the nominee’s stance on issues like economy, inflation and future direction of the Fed.

The curve has bull-flattened with the UST 10-Year yield down 0.8 bp from prior closing
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  11/27 New Home Sales 07:00 Oct 627k 685k 667k 645k  
                   
  11/27 New Home Sales MoM 07:00 Oct -6.10% 6.20% 18.90% 14.20%  
                   
  11/27 Dallas Fed Manf. Activity 07:30 Nov 24.00 19.40 27.60 -  
                   
  11/28 Wholesale Inventories MoM 05:30 Oct P 0.40% -0.40% 0.30% 0.10%  
                   
  11/28 FHFA House Price Index MoM 06:00 Sep 0.50% 0.30% 0.70% 0.80%  
                   
  11/28 S&P CoreLogic CS 20-City MoM SA 06:00 Sep 0.30% 0.52% 0.45% 0.44%  
                   
  11/28 S&P CoreLogic CS 20-City YoY NSA 06:00 Sep 6.04% 6.19% 5.92% 5.82%  
                   
  11/28 Richmond Fed Manufact. Index 07:00 Nov 14.00 30.00 12.00 -  
                   
  11/29 MBA Mortgage Applications 04:00 24 Nov - - 0.10% -  
                   
  11/29 GDP Annualized QoQ 05:30 3Q S 3.20% - 3.00% -  
                   
  11/29 Personal Consumption 05:30 3Q S 2.50% - 2.40% -  
                   
  11/29 GDP Price Index 05:30 3Q S 2.20% - 2.20% -  
                   
  11/29 Core PCE QoQ 05:30 3Q S 1.30% - 1.30% -  
                   
  11/29 Pending Home Sales MoM 07:00 Oct 1.00% - 0.00% -  
                   
  11/29 Pending Home Sales NSA YoY 07:00 Oct 3.00% - -5.40% -  
                   
  11/29 U.S. Federal Reserve Releases Beige Book 11:00 - - - - -  
                   
  11/30 Personal Income 05:30 Oct 0.30% - 0.40% -  
                   
  11/30 Personal Spending 05:30 Oct 0.20% - 1.00% -  
                   
  11/30 PCE Deflator MoM 05:30 Oct 0.10% - 0.40% -  
                   
  11/30 PCE Deflator YoY 05:30 Oct 1.50% - 1.60% -  
                   
  11/30 Initial Jobless Claims 05:30 25 Nov 240k - 239k -  
                   
  11/30 Continuing Claims 05:30 18 Nov 1895k - 1904k -  
                   
  11/30 PCE Core MoM 05:30 Oct 0.20% - 0.10% -  
                   
  11/30 PCE Core YoY 05:30 Oct 1.40% - 1.30% -  
                   
  11/30 Bloomberg Consumer Comfort 06:45 26 Nov - - 51.70 -  
                   
  12/01 Markit US Manufacturing PMI 06:45 Nov F - - 53.80 -  
                   
  12/01 ISM Manufacturing 07:00 Nov 58.30 - 58.70 -  
                   
  12/01 ISM Prices Paid 07:00 Nov 67.30 - 68.50 -  
                   
  12/01 Construction Spending MoM 07:00 Oct 0.50% - 0.30% -  
                   
 
 
 
 
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