Back to top

Market Commentary

Home
Market Commentary



 
Today's Coupons
 
  10-Year Notes   1.485%  
 
  Support   1.668%  
 
  Resistance   1.505%  
 
  FN 2.5% Coupon   103.41 (+0.109)  
 
 
 
 
  Wednesday, June 16, 2021
 
 

US Stocks Mixed Prior to Fed's Policy Decision

 
 
The Market opened today's session with treasuries higher across all maturities. The 10-year Treasury yield is currently at 1.4888, 0.34 bp lower than prior closing of 1.4922.

US stocks fluctuated as investors continue to wait for news from the Fed’s policy decision, which is expected to include updated projects for interest rates, and economic forecasts. The S&P 500 Index was mixed, with health care, utilities and tech sectors leading gains, while energy and financial shares lost. In terms of Europe, the Stoxx 600 Index continues to float on a record high as Chemical producers advance. Elsewhere, China ordered state firms to curb overseas commodities exposure to rein in soaring raw materials prices. Bitcoin fell below $40,000, retreating from its highest closing level since May. Coming up, on Wednesday, Vladimir Putin and President Biden meet in Geneva. On Thursday, Treasury Secretary Janet Yellen will testify before a House panel regarding federal budgets and Norway and Switzerland release rate decisions. On Friday the Bank of Japan releases its monetary policy decision.  

The curve has bull-flattened with the UST 10-Year yield down 0.34 bp.

 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  06/15 Empire Manufacturing 05:30 Jun 22.70 17.40 24.30 -  
                   
  06/16 Building Permits 05:30 May 1730k 1681k 1760k 1733k  
                   
  06/16 Building Permits MoM 05:30 May -0.20% -3.00% 0.30% -1.30%  
                   
  06/16 Housing Starts 05:30 May 1630k 1572k 1569k 1517k  
                   
  06/16 Housing Starts MoM 05:30 May 3.90% 3.60% -9.50% -12.10%  
                   
  06/16 MBA Mortgage Applications 05:30 Jun 11 - 4.20% -3.10% -  
                   
  06/17 Initial Jobless Claims 05:30 Jun 12 360k - 385k -  
                   
  06/17 Continuing Claims 05:30 Jun 5 3425k - 3771k -  
                   
  06/17 Leading Index 07:00 May 1.30% - 1.60% -
                   
 
 
 
 
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 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.  
 
 
© Sun West Mortgage Company, Inc. All Rights Reserved