Back to top

Market Commentary

Home
Market Commentary


 
Today's Coupons
 
  10-Year Notes   103-08 (+17.5)  
 
  FN 3.5% Coupon   99-17.5 (+10)  
 
  Support   3.237%  
 
  Resistance   2.721%  
 
 
 
 
Thursday, December 27, 2018
 
 
Market opened today's session with treasuries bouncing back from yesterday's sharp sell-off10-Year treasury yield is at 2.7452, 6.27 bps decreased from prior closing of 2.8079.

Yesterday's massive rally in stock market right after Christmas marked the biggest one-day rally in US equities since 2009 and the biggest post-Christmas rally ever. However, this short-lived positive momentum in stock market did not carry over into today's opening. Along with stocks, WTI crude also pared gains from previous day this morning. Haven assets climbed with Treasury 10-Year yields falling back below 2.80% again. The US Treasury is scheduled to auction off $32 Billion of 7-Year notes at 10:00 AM (PT).

Initial Jobless Claims came in line with expectation at 216k, slightly lowered from an upwardly revised prior of 217k. Continuing Claims, which lag one week, came in marginally above expectation of 1675k at 1701k but were still shy of revised prior of 1705k. US House Price Index in October rose 0.30% as expected vs. 0.20% prior with west north central region increasing the most. While Bloomberg Weekly Consumer Comfort Index improved to 59.40 from 58.80 prior, Conference Board Consumer Confidence in December fell to 128.10 from 136.40 revised prior. New Home sales data due tomorrow will be delayed due to the partial government shutdown.

The curve has bull-flattened with UST 10-Year yield down 6.27 bps.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  12/24 Chicago Fed Nat Activity Index 05:30 Nov 0.20 0.22 0.24 0.00  
                   
  12/25 No Data - - - - - -  
                   
  12/26 S&P CoreLogic CS 20-City MoM SA 06:00 Oct 0.30% 0.41% 0.33% 0.73%  
                   
  12/26 S&P CoreLogic CS 20-City YoY NSA 06:00 Oct 4.86% 5.03% 5.15% 5.21%  
                   
  12/26 Richmond Fed Manufact. Index 07:00 Dec 15.00 -8.00 14.00 -  
                   
  12/27 Initial Jobless Claims 05:30 22 Dec 216k 216k 214k 217k  
                   
  12/27 Continuing Claims 05:30 15 Dec 1675k 1701k 1688k 1705k  
                   
  12/27 FHFA House Price Index MoM 06:00 Oct 0.30% 0.30% 0.20% -  
                   
  12/27 Bloomberg Consumer Comfort 06:45 23 Dec - 59.40 58.80 -  
                   
  12/28 Pending Home Sales MoM 07:00 Nov 1.00% - -2.60% -  
                   
  12/28 Pending Home Sales NSA YoY 07:00 Nov - - -4.60% -  
                   
 
 
 
 
Helpful Links
  Visit Us Online   Submit Loan  
  Get Approved   SeeMyLoanStatusTM  
  Download Rate Sheet   Conventional Program Guidelines  
  Price & Lock   Government Program Guidelines  
 
 
   
 
  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  
 
©2019 Sun West Mortgage Company, Inc. All Rights Reserved