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Market Commentary


 

 

 
Today's Coupons
 
  10-Year Notes   1.271%  
 
  Support   1.573%  
 
  Resistance   1.307%  
 
  FN 2.5% Coupon   104.031 (-0.047)  
 
 
 
 
  Thursday, July 29, 2021
 
 

U.S. Futures Gains, GDP Fails to Meet Expectations, Personal Consumption Rises

 
 
The Market opened today's session with treasuries lower across all maturities. The 10-year Treasury yield is currently at 1.2626, 2.99 bps higher than prior closing of 1.2327.

U.S. futures and stocks gained on positive earnings and investors being pessimistic that there won’t be any change in the stimulus by the Federal Reserve. Contracts on the S&P 500 and the Dow rose. Bitcoins were stable and traded around $40,000. Oil extended gains as U.S. stockpiles reduced, while Treasuries fell. Gross domestic product expanded at a 6.50% annualized rate following a revised 6.30% pace in the first quarter. GDP failed to meet the forecast expectation of 8.40% as government expenditures, residential investment and inventories weighed on the numbers. Personal consumption rises at 11.80% annual rate. U.S. state unemployment applications for Initial jobless claims fell in the week ended July 24 signaled the improvement in the labor market despite the spread of Covid-19 delta variant.

The curve has bear-steepened with the UST 10-Year yield up 2.99 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 27.30 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 - 5.70% -4.00% -
                   
  07/28 Retail Inventories MoM 05:30 Jun -0.50% 0.30% -0.80% -  
                   
  07/28 Wholesale Inventories MoM 05:30 Jun P 1.10% 0.80% 1.30% -  
                   
  07/29 GDP Annualized QoQ 05:30 2Q A 8.40% 6.50% 6.40% -  
                   
  07/29 GDP Price Index 05:30 2Q A 5.40% - 4.30% -  
                   
  07/29 Initial Jobless Claims 05:30 Jul 24 385k 400k 419k 424k  
                   
  07/29 Continuing Claims 05:30 Jul 17 3183k 3269k 3236k 3262k  
                   
  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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