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Market Commentary

Market Commentary

Today's Coupons
  10-Year Notes   1.366%  
  Support   1.597%  
  Resistance   1.387%  
  FN 2.5% Coupon   103.516 (+0.188)  
  Wednesday, July 14, 2021

Earnings Rises, Future & Oil Gains, Surge in Producer Prices

The Market opened today's session with treasuries higher across all maturities. The 10-year Treasury yield is currently at 1.3660, 5.06 bps lower than prior closing of 1.4166.

The bonds rallied and the U.S. Futures gained after Federal Reserve Chair Jerome Powell said the U.S. economy still hasn’t recovered enough to begin reducing stimulus. The 10-year U.S. Treasury yield and the dollar declined after Powell's comments. The contracts on the S&P 500 and Nasdaq 100 increased. The Stoxx Europe 600 index declined due to decline in utilities and travel and leisure companies. Oil rises after the United Arab has reached a preliminary deal to resolve the OPEC+ issue. U.S. producers prices surged more than expected in June due to higher commodity prices and complications with global supply chains, increasing the pressure on companies to pass along higher costs to consumers.

The curve has bull-flattened with the UST 10-Year yield down 5.06 bps.

This Week's Events
  07/13 NFIB Small Business Optimism 03:00 Jun 99.50 102.50 99.60 -  
  07/13 CPI MoM 05:30 Jun 0.50% 0.90% 0.60% -  
  07/13 CPI YoY 05:30 Jun 4.90% 5.40% 5.00% -  
  07/13 CPI Index NSA 05:30 Jun 270.713 271.696 269.195 -  
  07/13 CPI Core Index SA 05:30 Jun 277.034 278.140 275.718 -  
  07/14 MBA Mortgage Applications 04:00 9 Jul - 16.00% -1.80% -  
  07/14 PPI Final Demand MoM 05:30 Jun 0.60% 1.00% 0.80% -  
  07/14 PPI Final Demand YoY 05:30 Jun 6.70% 7.30% 6.60%    
  07/15 Initial Jobless Claims 05:30 10 Jul 350k - 373k -  
  07/15 Continuing Claims 05:30 3 Jul 3300k - 3339k -  
  07/16 U. of Mich. Sentiment 07:00 Jul P 86.50 - 85.50 -
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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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