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Market Commentary

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Market Commentary



 
Today's Coupons
 
 10-Year Notes 1.171% 
 
 Support 1.560% 
 
 Resistance 1.267% 
 
 FN 2.5% Coupon 103.984 (+0.109) 
 
 
 
 
 Tuesday, July 20, 2021
 
 

Future Gains, Bitcoin Declines, U.S. Housing Starts Surpass Forecasts

 
 
The Market opened today's session with treasuries higher across all maturities. The 10-year Treasury yield is currently at 1.1375, 5.13 bps lower than prior closing of 1.1888.

U.S. futures gained as investors are having a positive outlook on corporate earnings against the uncertain outlook for global growth. Contracts on the S&P 500 and Nasdaq 100 showed a strong opening today. The Stoxx Europe 600 broke a four-day losing streak. Bonds in Europe advanced. U.S. housing starts increased in June by more than forecast. Initial home construction rose 6.30% last month to a 1.64 million annualized rate. The government’s report showed the number of single-family homes started increased 6.30% in June to a 1.16 million pace. Crude oil fluctuated between small gains and losses. Bitcoin fell below $30,000 level. Treasury yields edged lower and the dollar was steady.

The curve has bull-flattened with the UST 10-Year yield down 5.13 bps.

 
 
  
 
  
 
This Week's Events
 
 
 DATEEVENTTIME(PT)PERIODSURVEYACTUALPRIORREVISED 
 07/20Building Permits MoM05:30Jun0.70%-5.10%-3.00%-2.90% 
          
 07/20Building Permits05:30Jun1696k1598k1681k1683k 
          
 07/20Housing Starts05:30Jun1590k1643k1572k1546k 
          
 07/20Housing Starts MoM05:30Jun1.20%6.30%3.60%2.10% 
          
 07/21MBA Mortgage Applications04:00Jul 16--16.00%- 
          
 07/22Chicago Fed Nat Activity Index05:30Jun0.30-0.29- 
          
 07/22Initial Jobless Claims05:30Jul 17350k-360k- 
          
 07/22Continuing Claims05:30Jul 103100k-3241k- 
          
 07/22Leading Index07:00Jun0.90%-1.30%-
          
 07/23Markit US Manufacturing PMI06:45Jul P62.00-62.10- 
          
 07/23Markit US Services PMI06:45Jul P64.50-64.60- 
          
 07/23Markit US Composite PMI06:45Jul P--63.70- 
          
 
 
 
 
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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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