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Market Commentary


 
Today's Coupons
 
  10-Year Notes   96-04 (-13.5)  
 
  FN 3.5% Coupon   102-10 (-08)  
 
  Support   2.488%  
 
  Resistance   2.291%  
 
 
 
 
Monday, December 5, 2016
 
 

The UST 10-Year yield is at 2.435% this morning after closing at 2.384% on Friday.

Last week was very eventful as news broke that OPEC will cut back on production, Friday's Non-Farm Payroll data showed a stronger labor force and yesterday's Italian referendum was declined. Looking forward, we have the much anticipated FOMC meeting on Dec 13-14th.

In today's economic news, the IHS released the Markit US Services Purchasing Managers' Index (PMI) which fell slightly to 54.60, indicating the economy has continued to expand for the 9th consecutive month. The Markit US Composite PMI remained unchanged from October. The ISM Non-Manufacturing Composite Index was released at 57.20.

The curve has bear-steepened with the UST 10-Year 5.1 bps up from prior closing.

 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  12/05 Markit US Services PMI 06:45 Nov F 54.90 54.60 54.70 -  
                   
  12/05 Markit US Composite PMI 06:45 Nov F - 54.90 54.90 -  
                   
  12/06 Nonfarm Productivity 05:30 3Q F 3.30% - 3.10% -  
                   
  12/06 Factory Orders 07:00 Oct 2.60% - 0.30% -  
                   
  12/06 Factory Orders Ex Trans 07:00 Oct - - 0.60% -  
                   
  12/06 Durable Goods Orders 07:00 Oct F 3.40% - 4.80% -  
                   
  12/06 Durables Ex Transportation 07:00 Oct F 0.50% - 1.00% -  
                   
  12/07 MBA Mortgage Applications 04:00 2 Dec - - -9.40% -  
                   
  12/07 JOLTS Job Openings 07:00 Oct 5500 - 5486 -  
                   
  12/08 Initial Jobless Claims 05:30 3 Dec 255K - 268K -  
                   
  12/08 Continuing Claims 05:30 26 Nov 2048K - 2081K -  
                   
  12/08 Bloomberg Consumer Comfort 06:45 4 Dec - - - -  
                   
  12/09 Wholesale Inventories MoM 07:00 Oct F - - - -  
                   
  12/09 U. of Mich. Sentiment 07:00 Dec P - - 93.80 -  
                   
 
 
 
 
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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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