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Market Commentary

Market Commentary

Today's Coupons
  10-Year Notes   1.182%  
  Support   1.573%  
  Resistance   1.307%  
  FN 2.5% Coupon   104.281 (+0.109)  
  Monday, August 2, 2021

Futures Rises Amid Positive Earnings, Dollar Declined

The Market opened today's session with treasuries lower across all maturities. The 10-Year Treasury yield is currently at 1.2272, 0.49 bps higher than prior closing of 1.2223.
U.S. futures and European stocks increased as rise in earnings and increase in corporate transactions made the positive sentiments, offsetting concerns over China’s regulatory crackdown and the spread of the delta virus variant. S&P 500 and Nasdaq 100 contracts  increased. Treasuries were steady and the dollar declined. The Stoxx Europe 600 index rises. Global stocks in July had their longest winning streak since 2018 on the back of positive earnings, though concerns about supply bottlenecks, impact of the delta virus strain on the world economy, and rising prices remain. Crude oil retreated declined whereas Bitcoin slipped back below $40,000.
The curve has bear-steepened with the UST 10-Year yield up 0.49 bps.
This Week's Events
  08/02 Markit US Manufacturing PMI 06:45 Jul F 63.10 63.4 63.10 -  
  08/02 Construction Spending MoM 07:00 Jun 0.40% 0.10% -0.30% -0.20%  
  08/03 Durable Goods Orders 07:00 Jun F 0.80% - 0.80% -  
  08/03 Durables Ex Transportation 07:00 Jun F 0.30% - 0.30% -  
  08/04 MBA Mortgage Applications 04:00 30 Jul - - 5.70% -  
  08/04 ADP Employment Change 05:15 Jul 650k - 692k -  
  08/05 Initial Jobless Claims 05:30 31 Jul 382k - 400k -  
  08/05 Continuing Claims 05:30 24 Jul 3260k - 3269k -  
  08/06 Change in Nonfarm Payrolls 05:30 Jul 888k - 850k -  
  08/06 Wholesale Inventories MoM 07:00 Jun F 0.80% - 0.80% -  
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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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