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Market Commentary

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Market Commentary


 
 
Today's Coupons
 
  10-Year Notes   1.463%  
 
  Support   1.668%  
 
  Resistance   1.505%  
 
  FN 2.5% Coupon   103.05 (00)  
 
 
 
 
  Friday, June 18, 2021
 
 

US Stocks Fluctuate after the Federal Reserve's latest monetary policy decision and projections

 
 
The Market opened today's session with treasuries higher across all maturities. The 10-year Treasury yield is currently at 1.4633, 4.07 bps lower than prior closing of 1.5040.

US stocks fell for a fourth day in a row, extending the market’s volatility caused by the Federal Reserve’s recent announcement. The Dow Jones Industrial Average fell 1.3%, continuing a downwards path towards its worst week since January as investors step back from trades related to economic growth and inflation. The tech- heavy Nasdaq 100 Index fell 0.3%, dropping from a record high. European shares fell the most in a month, with the Stoxx 600 dropping 1.5% from its longest streak of gains since 1999. Yields on shorter-maturity Treasuries jumped after St. Louis Fed President James Bullard said on CNBC that the central bank has started discussing scaling back the pace of pandemic bond-buying. Oil fell for a second day, with Brent crude slipping from this week’s 2018 high. An advance in the dollar this week has made commodities that are priced in the US currency more expensive, driving declines across the complex. Elsewhere, some of the biggest gainers in cryptocurrency tumbled back. The DeFi, or decentralized finance, tokens such as Krill, Arqma and Catge coin slumped more than 60%.   

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  
  06/15 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 412k 376k 375k  
                   
  06/17 Continuing Claims 05:30 Jun 5 3425k 3518k 3499k 3517k  
                   
  06/17 Leading Index 07:00 May 1.30% 1.30% 1.60% 1.30%
                   
 
 
 
 
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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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