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Market Commentary


 

 
Today's Coupons
 
  10-Year Notes   1.530%  
 
  Support   1.688%  
 
  Resistance   1.570%  
 
  FN 2.5% Coupon   103.59 (+0.06)  
 
 
 
 
  Tuesday, June 8, 2021
 
 

Stocks Fluctuate as US Job Openings Soar to Fresh Record High

 
 
The Market opened today's session with treasuries higher across all maturities. The 10-year Treasury yield is currently at 1.5280, 4.07 bps lower than prior closing of 1.5687.

US stocks continued to trade in a relatively tight range and Treasuries rose as investors tried to debate over the balance between economic recovery and the Fed’s dovish stance against resurgent inflation. The S&P 500 Index was little changed, however, the Nasdaq 100 Index did rise 0.3%. Big banks including JPMorgan and Wells Fargo were among the biggest drags on the benchmark equity gauge, while megacap techs including Amazon and Apple rallied. Tesla rose after reporting a surge in deliveries of China-made cars. Bitcoin slumped to a two-week low. In terms of employment, US job openings rose in April to a fresh record high, along with the number of people who voluntarily left their jobs, underscoring fervent labor demand and turnover as businesses emerge from pandemic-related restrictions and the economy strengthens. The number of available positions climbed to 9.3 million during the month, the highest on data back to 2000, from an upwardly revised 8.3 million in March. Coming up this week, Apple continues to hold its annual Worldwide Developers Conference through June 11, releasing new software and hardware. On Thursday, European Central Bank decisions come out and President Christine Lagarde will partake in a press conference. Also on Thursday, the Iran nuclear deal talks will reconvene in Vienna and the US consumer price index report is released. The Group of Seven summit will start in Cornwall, England on Friday. 

The curve has bull-flattened with the UST 10-Year yield down 4.07 bps.

 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  06/08 NFIB Small Business Optimism 03:00 May 101.00 99.60 99.80 -  
                   
  06/09 MBA Mortgage Applications 04:00 4 Jun - - -4.00% -  
                   
  06/10 CPI MoM 05:30 May 0.40% - 0.80% -  
                   
  06/10 CPI YoY 05:30 May 4.70% - 4.20% -  
                   
  06/10 CPI Index NSA 05:30 May 268.681 - 267.054 -  
                   
  06/10 CPI Core Index SA 05:30 May 275.058 - 273.700 -  
                   
  06/10 Initial Jobless Claims 05:30 5 Jun 370k - 385k -  
                   
  06/10 Continuing Claims 05:30 29 May 3650k - 3771k -  
                   
  06/11 U. of Mich. Sentiment 07:00 Jun P 84.20 - 82.90 -
                   
 
 
 
 
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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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