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Market Commentary


 
 
Today's Coupons
 
  10-Year Notes   1.239%  
 
  Support   1.573%  
 
  Resistance   1.307%  
 
  FN 2.5% Coupon   103.984 (+0.172)  
 
 
 
 
  Tuesday, July 27, 2021
 
 

Future Falls, U.S. Durable Goods Orders Rise, FHFA Home Price Index Up

 
 
The Market opened today's session with treasuries higher across all maturities. The 10-year Treasury yield is currently at 1.2428, 4.68 bps lower than prior closing of 1.2896.

U.S. futures fell as investors started selling off Chinese shares after regulatory crackdown in the country. Contracts on the S&P 500 and European equities fell. A strong start to the earnings season has offset investors’ concerns around the virus spread and inflation, leading most of U.S. indices to all time high. Bitcoin traded near $38,000 after reaching above $40,000. U.S. durable goods orders  less than expected in June, increased 0.80% from the prior month. The reopening of the economy, steady business investment and still-lean inventories has increased demand for manufactured goods. Commercial-Property sales volume returned to pre-pandemic levels led by low interest rates. Home prices rose 18.00% y/y in May according to a report from the Federal Housing Finance Agency (FHFA), Home Price Index is Up 1.70% M/m basis. U.S. GDP data are due Thursday.

The curve has bull-flattened with the UST 10-Year yield down 4.68 bps.

 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  07/26 Dallas Fed Manf. Activity 07:30 Jul 31.60 - 31.10 -  
                   
  07/27 Durable Goods Orders 05:30 Jun P 2.20% 0.80% 2.30% 3.20%  
                   
  07/27 Durables Ex Transportation 05:30 Jun P 0.80% 0.30% 0.30% 0.50%  
                   
  07/27 FHFA House Price Index MoM 06:00 May 1.60% 1.70% 1.80% -  
                   
  07/27 S&P CoreLogic CS 20-City MoM SA 06:00 May 1.50% 1.81% 1.62% 1.66%  
                   
  07/27 S&P CoreLogic CS 20-City YoY NSA 06:00 May 16.33% 16.99% 14.88% 15.01%  
                   
  07/27 Conf. Board Consumer Confidence 07:00 Jul 123.90 129.10 127.30 128.90  
                   
  07/27 Richmond Fed Manufact. Index 07:00 Jul 20.00 27.00 22.00 26.00  
                   
  07/28 MBA Mortgage Applications 04:00 Jun 23 - - -4.00% -
                   
  07/28 Retail Inventories MoM 05:30 Jun -0.50% - -0.80% -  
                   
  07/28 Wholesale Inventories MoM 05:30 Jun P 1.10% - 1.30% -  
                   
  07/29 GDP Annualized QoQ 05:30 2Q A 8.50% - 6.40% -  
                   
  07/29 GDP Price Index 05:30 2Q A 5.40% - 4.30% -  
                   
  07/29 Initial Jobless Claims 05:30 Jul 24 380k - 419k -  
                   
  07/29 Continuing Claims 05:30 Jul 17 3186k - 3236k -  
                   
  07/30 PCE Deflator MoM 05:30 Jun 0.60% - 0.40% -  
                   
  07/30 PCE Deflator YoY 05:30 Jun 4.00% - 3.90% -  
                   
  07/30 U. of Mich. Sentiment 07:00 Jul F 80.80 - 80.80 -  
                   
 
 
 
 
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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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