Back to top

Market Commentary

Home
Market Commentary


 
 
Today's Coupons
 
  10-Year Notes   1.286%  
 
  Support   1.596%  
 
  Resistance   1.382%  
 
  FN 2.5% Coupon   103.906 (+0.156)  
 
 
 
 
  Thursday, July 8, 2021
 
 

US futures declines, Bond Rallies

 
 
The Market opened today's session with treasuries higher across all maturities. The 10-Year Treasury yield is currently at 1.2862, 3.01 bps lower than prior closing of 1.3163.
U.S. futures declined today as the investors are concerned about the growth expectations due to the spread of Covid-19 variants. The S&P 500 and Nasdaq 100 contracts declined more than 1.5%. U.S. 30-year Treasury yields fell below 1.90%. Oil declined today as investors are  awaiting the production plans from OPEC+ alliance. European stocks declined more than 2% as the miners dragged the stocks down. Bond rallied as market slumped and central banks signal continued support. Applications for U.S. state unemployment insurance increased by 2,000 to 373,000 in the week ended July 3. Many states are ending the unemployment benefit programs as they are hampering hiring efforts. Pennsylvania and New York reported the largest increases in initial claims last week, while claims in Oklahoma and Maryland fell.
The curve has bull-flattened with the UST 10-Year yield down 3.01 bps.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  07/06 Markit US Services PMI 06:45 Jun F 64.80 64.60 64.80 -  
                   
  07/06 Markit US Composite PMI 06:45 Jun F - 63.70 63.90 -  
                   
  07/07 MBA Mortgage Applications 04:00 2 Jul - -1.80% -6.90% -  
                   
  07/08 Initial Jobless Claims 05:30 3 Jul 350k 373k 364k 371k  
                   
  07/08 Continuing Claims 05:30 26 Jun 3350k 3339k 3469k 3484k  
                   
 
 
 
 
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