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Market Commentary


 
 
Today's Coupons
 
  10-Year Notes   1.589%  
 
  Support   1.688%  
 
  Resistance   1.570%  
 
  FN 2.5% Coupon   103.61 (+0.06)  
 
 
 
 
  Wednesday, June 2, 2021
 
 

US Stocks Rise Along with Treasuries and Bitcoin

 
 
The market opened today's session with treasuries higher across all maturities. The 10-Year Treasury yield is currently at 1.5926, 1.36 bps lower than prior closing of 1.6062.
This morning, US stocks extended their advance toward new record highs, as economic optimism continues to clash against inflation concerns. Led by technology shares, the S&P 500 Index gained 0.2%, more than any closing gain since May 24. Similarly, the Nasdaq 100 Index also saw 0.3% gains.  Over the weekend, AMC shares climbed as retail investors continued to pump the stock after Mudrick Capital Management claimed it to be overvalued. Additionally, the Dow Jones Industrial Average rose 0.2%, climbing for a fifth straight day, claiming its longest winning streak since May 7. Treasuries, gold, and Bitcoin gained. As the US economy continues to recover from the pandemic, traders anxiously await for signals on whether growth will translate into rising inflation. On Friday, US payroll data will be released, providing a clearer view of the state of the labor market.
The curve has bull-flattened with UST 10-Year yield down 1.36 bps.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  06/01 Markit US Manufacturing PMI 06:45 May F 61.50 62.10 61.50 -  
                   
  06/01 Construction Spending MoM 07:00 Apr 0.50% 0.20% 0.20% 1.00%  
                   
  06/01 ISM Prices Paid 07:00 May 89.50 88.00 89.60 -  
                   
  06/02 MBA Mortgage Applications 04:00 28 May - -4.00% -4.20% -  
                   
  06/03 ADP Employment Change 05:15 May 650k - 742k -  
                   
  06/03 Initial Jobless Claims 05:30 29 May 388k - 406k -  
                   
  06/03 Continuing Claims 05:30 22 May 3615k - 3642k -  
                   
  06/03 Markit US Services PMI 06:45 May F 70.10 - 70.10 -  
                   
  06/03 Markit US Composite PMI 06:45 May F - - 68.10 -  
                   
  06/04 Change in Nonfarm Payrolls 05:30 May 653k - 266k -  
                   
  06/04 Average Hourly Earnings MoM 05:30 May 0.20% - 0.70% -  
                   
  06/04 Average Hourly Earnings YoY 05:30 May 1.60% - 0.30% -  
                   
  06/04 Durable Goods Orders 07:00 Apr F -1.30% - -1.30% -  
                   
  06/04 Durables Ex Transportation 07:00 Apr F 1.00% - 1.00% -  
                   
  06/04 Factory Orders 07:00 Apr -0.30% - 1.10% -
                   
 
 
 
 
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