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Market Commentary


 
Today's Coupons
 
  10-Year Notes   95-20 (-09.5)  
 
  FN 3.5% Coupon   101-30 (-07)  
 
  Support   2.524%  
 
  Resistance   2.338%  
 
 
 
 
Monday, December 12, 2016
 
 

The UST 10-Year yield is at 2.490% this morning after closing at 2.468% on Friday.

This morning, U.S. Treasury yields opened higher than 2.50% from the overnight session; this is the highest seen since October 2014. Later this afternoon, just a day ahead of the start of the FOMC meeting, the U.S. Treasury is scheduled to auction $24 Billion in 3-Year notes and $20 Billion in 10-Year notes.

Crude oil prices continue to surge, reaching a 17th month high as Saudi Arabia indicated that they were ready to cut output more than previously stated.

Today, the only economic news being released is the Monthly Budget Statement summarizing the financial activities of federal entities, disbursing officers and Federal Reserve Banks. The Deficit is expected to grow from -$44.20 Billion in October to -$133.30 Billion.

The curve has bear-steepened with the UST 10-Year 2.2 bps up from prior closing.

 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  12/12 Monthly Budget Statement 11:00 Nov -$133.30 B - -$44.20 B -  
                   
  12/13 Import Price Index MoM 05:30 Nov -0.40% - 0.50% -  
                   
  12/13 Import Price Index YoY 05:30 Nov -0.10% - -0.20% -  
                   
  12/14 MBA Mortgage Applications 04:00 9 Dec - - -0.70% -  
                   
  12/14 Retail Sales Advance MoM 05:30 Nov 0.30% - 0.80% -  
                   
  12/14 PPI Final Demand MoM 05:30 Nov 0.10% - 0.00% -  
                   
  12/14 PPI Final Demand YoY 05:30 Nov 0.90% - 0.80% -  
                   
  12/14 Capacity Utilization 06:15 Nov 75.10% - 75.30% -  
                   
  12/14 Industrial Production MoM 06:15 Nov -0.30% - 0.00% -  
                   
  12/14 Business Inventories 07:00 Oct -0.10% - 0.10% -  
                   
  12/14 FOMC Rate Decision (Upper Bound) 11:00 14 Dec 0.75% - 0.50% -  
                   
  12/14 FOMC Rate Decision (Lower Bound) 11:00 14 Dec 0.50% - 0.25% -  
                   
  12/15 Empire Manufacturing 05:30 Dec - - 1.50 -  
                   
  12/15 CPI MoM 05:30 Nov - - 0.40% -  
                   
  12/15 CPI YoY 05:30 Nov - - 1.60% -  
                   
  12/15 Real Avg Weekly Earnings YoY 05:30 Nov - - 0.90% -  
                   
  12/15 Initial Jobless Claims 05:30 10 Dec - - - -  
                   
  12/15 Continuing Claims 05:30 3 Dec - - - -  
                   
  12/15 Bloomberg Consumer Comfort 06:45 11 Dec - - - -  
                   
  12/16 Housing Starts 05:30 Nov - - 1323K -  
                   
  12/16 Housing Starts MoM 05:30 Nov - - 25.50% -  
                   
  12/16 Building Permits 05:30 Nov - - 1229K 1260K  
                   
  12/16 Building Permits MoM 05:30 Nov - - 0.30% 2.90%  
                   
 
 
 
 
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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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