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Market Commentary

Market Commentary

Today's Coupons
  10-Year Notes   1.349%  
  Support   1.597%  
  Resistance   1.387%  
  FN 2.5% Coupon   103.781 (-0.109)  
  Friday, July 9, 2021

US Futures Gains, Bonds Decline, Dollar weakened

The Market opened today's session with treasuries lower across all maturities. The 10-Year Treasury yield is currently at 1.3310, 3.82 bps higher than prior closing of 1.2928.
U.S equity futures showed a mixed reaction today. European stock saw a significant advancement whereas Treasuries retreated after eight-day rally. The tech-heavy Nasdaq 100 futures index is little changed after fluctuating between gains and losses as an executive order will be signed by President Joe Biden which is designed to promote competition across American industries. The commission Revenue for real estate agents are expected to surpass $100 Billion for the first time as home sales are increasing according to an analysis by a property-technology company. The trading revenue for U.S. investment banks is expected to show a 28% decline. Oil saw a weekly decline after witnessing a OPEC+ dispute. The dollar weakened against all major currencies.
The curve has bear-steepened with the UST 10-Year yield up 3.82 bps.
This Week's Events
  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  
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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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