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Market Commentary

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Market Commentary


Monday
December 30, 2013
10-YEAR NOTES   98-00.5 (+5.5) 2.984%
FN 3.5% COUPON   99-14.5 (+5.5)
SUPPORT   3.01%
RESISTANCE   2.79%
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The 10-Year yield advanced two basis points, or 0.02 percentage point, to 3.01 percent at last Friday’s close breaking through prior support and even flirting with 3.02% (highest since July 26, 2011). Todaywe have pending home sales MoM expected at a positive 1% following five down months in a row. The Dallas Fed general business activity index in November posted its sixth consecutive positive reading and this month is expected to come in at 2 vs. 1.9 prior. Overnight we saw a bull flattening in the yield curve with mortgage spreads tightening roughly 6 bps.

This Week's Key Events

DATE EVENTS   TIME PERIOD SURVEY ACTUAL PRIOR REVISED
12/30 Pending Home Sales MoM 10:00 November 1.0% 0.2% -0.6% -1.2%
12/30 Dallas FedManufacture Activity 10:30 December  4.0% - 1.9% -
12/31 S&P/CaseShiller Home Price Index 09:00 October 165.76 - 165.66 -
12/31 Consumer Confidence 10:00 December 76.2   70.4  
01/01 *Market Closed - - - - - -
01/02 Initial Jobless Claims 08:30 December 28 344K - 338K -
01/02 Continuing Claims 08:30 December 21 2900K - 2923K -
01/02 ISM Manufacturing 10:00 December 56.9 - 57.3 -
01/02 Construction Spending MoM 10:00 November 0.7% - 0.8% -
01/03 Total Vehicle Sales 17:00 December 16 Million - 16.31 Million -
 
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This information is provided solely for informational use and is not intended as a trading or investment advice in any manner whatsoever. Sun West Mortgage Company, Inc. is not liscensed or registered broker or dealer and cannot provide investment strategies or recommendations. This information is provided to 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, price, guidelines, fees, costs, terms and conditions are subject to change without notice.