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Market Commentary


 
Today's Coupons
 
  10-Year Notes   98-01.5 (+03)  
 
  FN 3.5% Coupon   102-09.5 (+0.5)  
 
  Support   2.497%  
 
  Resistance   2.310%  
 
 
 
 
Tuesday, December 26, 2017
 
 
Treasuries are slightly higher across the curve this morning from Friday’s close. The UST 10-Year yield is currently at 2.477% after closing at 2.482% prior.

This morning we received the the S&P CoreLogic Home Price Index for October which rose 0.70% following an upwardly revised 0.97% increase in September; consensus called for a 0.60% increase in price MoM. Home prices YoY rose above expectations at 6.38% versus a 6.25% increase per survey; September’s YoY print was downwardly revised from 6.19% to 6.16%. Later today at 10:00 AM (PT), Treasury will auction $26 Billion new 2-Year Notes.

The remainder of this week’s shortened calendar will continue with Wednesday’s Consumer Confidence for December and the Pending Home Sales print for November and Thursday’s Wholesale and Retail Inventories for November and the Chicago Purchasing Manager print for December. There will be no economic data available on Friday.

The curve has bull-flattened with the UST 10-Year yield down 0.5 bp from prior closing.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  12/25 No Data - - - - - -  
                   
  12/26 S&P CoreLogic CS 20-City MoM SA 06:00 Oct 0.60% 0.70% 0.52% 0.97%  
                   
  12/26 S&P CoreLogic CS 20-City YoY NSA 06:00 Oct 6.25% 6.38% 6.19% 6.16%  
                   
  12/26 Richmond Fed Manufact. Index 07:00 Dec 21.00 20.00 30.00 -  
                   
  12/26 Dallas Fed Manf. Activity 07:30 Dec 20.00 29.70 19.40 -  
                   
  12/27 Pending Home Sales MoM 07:00 Nov -0.50% - 3.50% -  
                   
  12/27 Pending Home Sales NSA YoY 07:00 Nov - - 1.20% -  
                   
  12/28 Initial Jobless Claims 05:30 23 Dec 240k - 245k -  
                   
  12/28 Continuing Claims 05:30 16 Dec 1900k - 1932k -  
                   
  12/28 Wholesale Inventories MoM 05:30 Nov P 0.30% - -0.50% -  
                   
  12/28 Bloomberg Consumer Comfort 06:45 24 Dec - - 50.80 -  
                   
  12/29 No Data - - - - - -  
                   
 
 
 
 
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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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