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Market Commentary

Market Commentary

Today's Coupons
  10-Year Notes   1.312%  
  Support   1.597%  
  Resistance   1.387%  
  FN 2.5% Coupon   103.687 (00)  
  Friday, July 16, 2021

Future rises with Earnings in Focus, US Retail sale increases

The Market opened today's session with treasuries lower across all maturities. The 10-year Treasury yield is currently at 1.3154, 1.65 bps higher than prior closing of 1.2989.

U.S. stock-index futures rose with focus on increase in earnings due to economic reopening. S&P 500 Index futures advanced at least 0.2% for September contracts. Bitcoin lower for second day trading around $31,000 apiece. Binance Holdings Ltd., Cryptocurrency Exchange, is phasing out support for stock tokens. U.S. retail sales rose in June led by a solid quarter for household demand. The value of overall retail purchases advanced 0.60% last month, 1.30% excluding auto sales. The rise in retail sales is supported by government stimulus, increase in savings and vaccinations.

The curve has bear-steepened with the UST 10-Year yield up 1.65 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 360k 373k 386k  
  07/15 Continuing Claims 05:30 3 Jul 3300k 3241k 3339k 3367k  
  07/16 U. of Mich. Sentiment 07:00 Jul P 86.50 80.80 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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