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Market Commentary

Market Commentary

Today's Coupons
  10-Year Notes   98-15.5 (+02.5)  
  FN 3.5% Coupon   102-20 (00)  
  Support   2.808%  
  Resistance   1.697%  
  Tuesday, December 24, 2019

Treasuries Edge Lower, Stocks Steady Overnight

Market opened today’s session with treasuries slightly lower from prior close. The 10-Year Treasury yield is currently at 1.915 after closing at 1.930 prior.

Both stocks and bonds were relatively steady overnight, although treasuries nudged slightly lower at the open of today’s shortened session. West Texas oil rose 0.40% to climb above $60 a barrel, while gold and silver also rose 0.30% and 0.80%, respectively. Elsewhere, the dollar pared overnight gains against its major peers and headed for a monthly decline. On the economic calendar, the Richmond Fed Manufacturing Index for December read at -5.00 following an unrevised -1.00 reading prior; consensus called for the index to come in at 1.00. Lastly, the U.S. Treasury Department sold $41 billion of 5-Year Notes this morning at a yield of 1.756% versus 1.587% prior. The results of the auction helped treasuries reverse earlier losses.

The curve has bull-flattened with the UST 10-Year yield down 1.5 bps from prior closing.
This Week's Events
  12/23 Chicago Fed Nat Activity Index 05:30 Nov -0.33 0.56 -0.71 -0.76  
  12/23 Durable Goods Orders 05:30 Nov P 1.50% -2.00% 0.50% 0.20%  
  12/23 Durables Ex Transportation 05:30 Nov P 0.20% 0.00% 0.50% 0.30%  
  12/24 Richmond Fed Manufact. Index 07:00 Dec 1.00 -5.00 -1.00 -  
  12/25 No Data - - - - - -  
  12/26 MBA Mortgage Applications 04:00 20 Dec - - -5.00% -  
  12/26 Initial Jobless Claims 05:30 21 Dec 220k - 234k -  
  12/26 Continuing Claims 05:30 14 Dec 1692k - 1722k -  
  12/26 Bloomberg Consumer Comfort 06:45 22 Dec - - 61.10 -  
  12/27 No Data - - - - - -
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  This information is provided solely for informational use and is not intended as an advice for trading or investment purposes 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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