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Market Commentary


 
Today's Coupons
 
  10-Year Notes   100-18.5 (-11.5) 2.185%  
 
  FN 3.5% Coupon   103-23 (-05.5)  
 
  Support   2.370%  
 
  Resistance   2.130%  
 
 
 
 
Today's Blurb Wednesday, December 2, 2015
 
 
       MBA Mortgage Applications, for the week ended November 27th, fell 0.20% following a 3.20% drop the prior week. Purchases rose 7.70% vs. -0.50% prior (+30.20% YoY), Refinancing fell 6.00% vs. -4.80% prior (+13.10% YoY), and the average interest rate for a Conventional Conforming loan fell 2 bps to 4.120% (4.080% a year ago). According to ADP, companies added more workers in November than originally forecast. ADP posted a 217K increase (consensus 190K) following a 196K (revised) reading last month. The strength in ADP may point to a stronger than expected Nonfarm Payrolls this Friday. Nonfarm Productivity posted in line with consensus with a 2.20% advance following a 1.60% gain prior. ISM New York is expected to contract to 58.00 for November from 65.80 in October. Treasuries are weaker this morning following the hotter than expected ADP data, and the curve has flattened with 2s10s down 1.4 bps.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  11/30 ISM Milwaukee 06:00 Nov 48.00 45.34 46.66 -  
                   
  11/30 Pending Home Sales MoM 07:00 Oct    1.00% 0.20% -2.30% -1.60%  
                   
  11/30 Dallas Fed Manf. Activity 07:30 Nov   -10.00    -4.90     -12.70   -  
                   
  12/01 Markit US Manufacturing PMI 06:45 Nov F    52.60  52.80   52.60 -  
                   
  12/01 Construction Spending MoM 07:00 Oct   0.60% 1.00%   0.60% -  
                   
  12/01 ISM Manufacturing 07:00 Nov   50.50 48.60   50.10 -  
                   
  12/02 MBA Mortgage Applications 04:00 Nov 27   - -0.20%   -3.20% -  
                   
  12/02 ADP Employment Charge 05:15 Nov 190K 217K   182K 196K  
                   
  12/02 Nonfarm Productivity 05:30 3Q F 2.20% 2.20%   1.60% -  
                   
  12/02 ISM New York 06:45 Nov 58.00 - 65.80 -  
                   
  12/02 U.S Fed Releases Beige Book 11:00 - - - - -  
                   
  12/03 Challenger Job Cuts YoY 04:30 Nov - -   -1.30% -  
                   
  12/03 Initial Jobless Claims 05:30 Nov 28   268K -    260K -  
                   
  12/03 Continuing Claims 05:30 Nov 21   2190K -   2207K -  
                   
  12/03 Markit US Composite PMI 06:45 Nov F   - - 56.10 -  
                   
  12/03 Markit US Services PMI 06:45 Nov F   56.50 - 56.50 -  
                   
  12/03 Factory Orders 07:00 Oct   0.90% - -1.00% -  
                   
  12/03 Durable Goods Orders 07:00 Oct F - - 3.00% -  
                   
  12/03 Durables Ex Transportation 07:00 Oct F - - 0.50% -  
                   
  12/04 Change in Nonfarm Payrolls 05:30 Nov  200K  -  271K -  
                   
  12/04 Unemployment Rate 05:30 Nov 5.00% - 5.00% -  
                   
  12/04 Average Hourly Earnings MoM 05:30 Nov 0.20% - 0.40% -  
                   
  12/04 Average Hourly Earnings YoY 05:30 Nov 2.30% - 2.50% -  
                   
  12/04 Underemployment Rate 05:30 Nov - - 9.80% -  
                   
  12/04 Labor Force Participation Rate 05:30 Nov - -  62.40% -  
                   
  12/04 Trade Balance 05:30 Oct  -$43.75 B -  -$40.81 B -  
                   
 
 
 
 
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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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