Back to top

Market Commentary

Market Commentary

Today's Coupons
  10-Year Notes   99-17.5 (+06)  
  FN 3.5% Coupon   99-08.5 (+03)  
  Support   3.111%  
  Resistance   2.813%  
Monday, August 06, 2018
Treasuries are slightly higher across the curve this morning from Friday's close. The UST 10-Year yield is currently at 2.929% after closing at 2.950% prior.

Treasuries lowered overnight as the markets digested China's response to President Trump's claims that the U.S. has the “upper hand” in the trade war, stating that they are prepared to endure economic fallout. Treasuries have inched higher with the dollar since the open while U.S. Stocks turned lower. With a quiet start to the week, there are no economic reports available on the calendar this morning. Meanwhile, earnings season continues this week with results from Disney, 21st Century, Glencore and Adidas.

The economic calendar will remain light for the next two days with just the June JOLTS Job Openings and Consumer Credit available on Tuesday and only the MBA Mortgage Applications on Wednesday. On Thursday, we will have the July PPI final Demand and the June Wholesale Inventories and Trade Sales. Then on Friday, we will receive the July CPI reports as well as the Weekly and Hourly Earnings data. There are several auctions available throughout the week beginning with Tuesday's $34 Billion 3-Year Notes, Wednesday's $26 Billion 10-Year Notes, and Thursday's $18 Billion 30-Year Bonds.

The curve has bull-flattened with the UST 10-Year yield down 2.1 bps from prior closing.
This Week's Events
  08/06 No Data - - - - - -  
  08/07 JOLTS Job Openings 07:00 Jun 6625 - 6638 -  
  08/08 MBA Mortgage Applications 04:00 3 Aug - - -2.60% -  
  08/09 Initial Jobless Claims 05:30 4 Aug 220k - 218k -  
  08/09 Continuing Claims 05:30 28 Jul 1735k - 1724k -  
  08/09 PPI Final Demand MoM 05:30 Jul 0.20% - 0.30% -  
  08/09 PPI Final Demand YoY 05:30 Jul 3.40% - 3.40% -  
  08/09 Bloomberg Consumer Comfort 06:45 5 Aug - - 58.60 -  
  08/09 Wholesale Inventories MoM 07:00 Jun F 0.00% - 0.00% -  
  08/09 Wholesale Trade Sales MoM 07:00 Jun 0.20% - 2.50% -  
  08/10 CPI MoM 05:30 Jul 0.20% - 0.10% -  
  08/10 CPI YoY 05:30 Jul 2.90% - 2.90% -  
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  
©2021 Sun West Mortgage Company, Inc. All Rights Reserved