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Market Commentary

Market Commentary

Today's Coupons
  10-Year Notes   1.157%  
  Support   1.568%  
  Resistance   1.292%  
  FN 2.5% Coupon   104.375 (+0.063)  
  Tuesday, August 3, 2021

Future Rises, Dollar slips, Oil Falls

The Market opened today's session with treasuries higher across all maturities. The 10-Year Treasury yield is currently at 1.1705, 0.68 bps lower than prior closing of 1.1773.
U.S. equity-index futures as well as stocks in Europe increased as positive earnings reports helped to offset China’s regulatory crackdown on the gaming and technology sector. S&P 500 contracts and Futures on the Nasdaq 100 gained. The dollar slipped against major currencies. Tech stocks were the biggest losers on fear of Chinese clampdown on online entertainment. Crude oil fell below $70 a barrel in New York as the spread of the delta coronavirus variant continues.  The U.S. jobs report is due on Friday.
The curve has bull-flattened with the UST 10-Year yield down 0.68 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% 0.90% 0.80% -  
  08/03 Durables Ex Transportation 07:00 Jun F 0.30% 0.50% 0.30% -  
  08/04 MBA Mortgage Applications 04:00 30 Jul - - 5.70% -  
  08/04 ADP Employment Change 05:15 Jul 683k - 692k -  
  08/05 Initial Jobless Claims 05:30 31 Jul 383k - 400k -  
  08/05 Continuing Claims 05:30 24 Jul 3259k - 3269k -  
  08/06 Change in Nonfarm Payrolls 05:30 Jul 875k - 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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