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Market Commentary


 
Today's Coupons
 
  10-Year Notes   96-18.5 (-12.5)  
 
  FN 3.5% Coupon   102-22.5 (-05)  
 
  Support   2.488%  
 
  Resistance   2.291%  
 
 
 
 
Thursday, December 8, 2016
 
 
The UST 10-Year yield is at 2.379% this morning after closing at 2.341% yesterday.

Signs of a steady labor force and a growing economy continued this morning as the U.S. Department of Labor reported a decrease in initial jobless claims by 10K for the week ending in December 3rd. The number of claims came in at 258K, vs. the previously unrevised 268K, marking the 92nd consecutive week of initial claims under 300K, the longest streak since 1970. The number of individuals continuing to claim unemployment benefits also declined for the week ending on November 26th to 2005K vs. the revised 2084K the previous week.

According to the U.S. Department of Labor, the largest decrease in initial claims was in the state of California, where claims dropped by -11,399; Texas and New York also showed a significant decrease in claims, dropping by -7,688 and -2,189 respectively. The unemployment rate is at a 9 year low of 4.60%.

The curve has bear-steepened with the UST 10-Year 3.8 bps down 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% 3.10% -  
                   
  12/06 Factory Orders 07:00 Oct 2.60% 2.70% 0.30% 0.60%  
                   
  12/06 Factory Orders Ex Trans 07:00 Oct - 0.80% 0.60% -  
                   
  12/06 Durable Goods Orders 07:00 Oct F 3.40% 4.60% 4.80% -  
                   
  12/06 Durables Ex Transportation 07:00 Oct F 0.50% 0.80% 1.00% -  
                   
  12/07 MBA Mortgage Applications 04:00 2 Dec - -0.70% -9.40% -  
                   
  12/07 JOLTS Job Openings 07:00 Oct 5500 5534 5486 5631  
                   
  12/08 Initial Jobless Claims 05:30 3 Dec 255K 258K 268K -  
                   
  12/08 Continuing Claims 05:30 26 Nov 2048K 2005K 2081K 2084K  
                   
  12/08 Bloomberg Consumer Comfort 06:45 4 Dec - - 44.90 -  
                   
  12/09 Wholesale Inventories MoM 07:00 Oct F -0.40% - -0.40% -  
                   
  12/09 U. of Mich. Sentiment 07:00 Dec P 94.50 - 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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