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Market Commentary

Market Commentary

Today's Coupons
  10-Year Notes   98-28 (+05.5)  
  FN 3.5% Coupon   102-25 (+02.5)  
  Support   2.784%  
  Resistance   1.697%  





  Friday, December 27, 2019

Treasury Yields Lower as Stocks Hit Fresh Records

Market opened today’s session with treasuries edging higher across all maturities. 10-Year Treasury yield is at 1.8752, 1.92 bps decreased from prior closing of 1.8944.

US equity index futures pointed to a higher open this morning along with global stocks propelling to fresh records, boosted by gains in retail and technology sectors. Amazon shares were buoyed by holiday shopping season which assured investors that US consumers are feeling confident, and semiconductor makers and chip equipment companies jumped, poised to close out their best year since the rebound from the financial crisis. The tech-heavy Nasdaq has risen for 11 straight days, marking the longest winning streak since July 2009. Overnight, solid industrial profits data came out of China further boosting investor sentiment for riskier assets. Elsewhere, WTI crude edged higher from prior close, trading slightly below $62 a barrel this morning, and the greenback continued declining versus its major peers. There’s no scheduled economic event today.

The curve has bull-steepened with UST 10-Year yield down 1.92 bps.
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 - -5.30% -5.00% -  
  12/26 Initial Jobless Claims 05:30 21 Dec 220k 222k 234k 235k  
  12/26 Continuing Claims 05:30 14 Dec 1688k 1719k 1722k 1725k  
  12/26 Bloomberg Consumer Comfort 06:45 22 Dec - 62.30 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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