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Market Commentary


 
 
Today's Coupons
 
  10-Year Notes   1.236%  
 
  Support   1.573%  
 
  Resistance   1.307%  
 
  FN 2.5% Coupon   104.141 (+0.094)  
 
 
 
 
  Friday, July 30, 2021
 
 

Futures and Stocks Declines, June Personal Spending Rises 

 
 
The Market opened today's session with treasuries higher across all maturities. The 10-year Treasury yield is currently at 1.2406, 2.87 bps lower than prior closing of 1.2693.

U.S. futures declined as investors concerned about slowing growth at mega cap technology companies. Nasdaq 100 contracts and S&P 500 futures were declined too. Markets have seen more volatility this week followed by crackdown due to China’s tightening regulatory grip, a slew of earnings and the outlook for stimulus. Bitcoin dropped below $39,000. The dollar was steady against its competitor. U.S. June personal spending rose 1% M/M, accelerated more than expected in June. Personal income increased 0.1% in June. The rising pay and an improvement in the labor market led to wages and salaries climbed 0.8%. Consumers had the confidence and ability to spend money on services due to vaccinations and a broader reopening of the economy.

The curve has bull-flattened with the UST 10-Year yield down 2.87 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% 0.50% 0.40% 0.50%  
                   
  07/30 PCE Deflator YoY 05:30 Jun 4.00% 4.00% 3.90% 4.00%  
                   
  07/30 U. of Mich. Sentiment 07:00 Jul F 80.80 81.20 80.80 -  
                   
 
 
 
 
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