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Market Commentary


 
Today's Coupons
 
  10-Year Notes   98-17.5 (00)  
 
  FN 3.5% Coupon   102-14.5 (-01.5)  
 
  Support   2.472%  
 
  Resistance   2.304%  
 
 
 
 
Friday, December 01, 2017
 
 
Treasuries are higher across the curve this morning from yesterday’s close. The UST 10-Year yield is currently at 2.382% after closing at 2.411% during the prior session.

Treasuries edged higher this morning as a voting session on the Republican tax bill in the Senate was delayed yesterday after three GOP senators expressed concerns regarding the effects of the bill on the budget deficit. The Joint Committee on Taxation concluded that the language on the proposed Senate bill would increase the federal deficit by approximately $1 Trillion during the next decade.

In other economic news, we received the Manufacturing PMI Index which reflected a forecast for November of 53.90 against market survey of 54.00 and a prior result of 53.80; while the ISM Manufacturing Index reflected 58.20 against market survey of 58.30 and a prior result of 58.70. We also received the Manufacturing New Orders for November which reflected 64.00 up from its prior mark of 63.40 in October, signaling expansion in the manufacturing sector. Lastly, we received the Construction Spending print for October which rose 1.40% following a 0.30% rise in September.

The curve has bull-flattened with the UST 10-Year yield down 2.9 bps from prior closing.

Have A Nice Weekend!
 
 
   
 
   
 
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 - -3.10% 0.10% -  
                   
  11/29 GDP Annualized QoQ 05:30 3Q S 3.20% 3.30% 3.00% -  
                   
  11/29 Personal Consumption 05:30 3Q S 2.50% 2.30% 2.40% -  
                   
  11/29 GDP Price Index 05:30 3Q S 2.20% 2.10% 2.20% -  
                   
  11/29 Core PCE QoQ 05:30 3Q S 1.30% 1.40% 1.30% -  
                   
  11/29 Pending Home Sales MoM 07:00 Oct 1.00% 3.50% 0.00% -0.40%  
                   
  11/29 Pending Home Sales NSA YoY 07:00 Oct 3.00% 1.20% -5.40% -5.70%  
                   
  11/29 U.S. Federal Reserve Releases Beige Book 11:00 - - - - -  
                   
  11/30 Personal Income 05:30 Oct 0.30% 0.40% 0.40% -  
                   
  11/30 Personal Spending 05:30 Oct 0.30% 0.30% 1.00% 0.90%  
                   
  11/30 PCE Deflator MoM 05:30 Oct 0.10% 0.10% 0.40% -  
                   
  11/30 PCE Deflator YoY 05:30 Oct 1.50% 1.60% 1.60% 1.70%  
                   
  11/30 Initial Jobless Claims 05:30 25 Nov 240k 238k 239k 240k  
                   
  11/30 Continuing Claims 05:30 18 Nov 1890k 1957k 1904k 1915k  
                   
  11/30 PCE Core MoM 05:30 Oct 0.20% 0.20% 0.10% 0.20%  
                   
  11/30 PCE Core YoY 05:30 Oct 1.40% 1.40% 1.30% 1.40%  
                   
  11/30 Bloomberg Consumer Comfort 06:45 26 Nov - 51.60 51.70 -  
                   
  12/01 Markit US Manufacturing PMI 06:45 Nov F 54.00 53.90 53.80 -  
                   
  12/01 ISM Manufacturing 07:00 Nov 58.30 58.20 58.70 -  
                   
  12/01 ISM Prices Paid 07:00 Nov 67.00 65.50 68.50 -  
                   
  12/01 Construction Spending MoM 07:00 Oct 0.50% 1.40% 0.30% -  
                   
 
 
 
 
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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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