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Market Commentary

Market Commentary

Today's Coupons
  10-Year Notes   1.204%  
  Support   1.569%  
  Resistance   1.295%  
  FN 2.5% Coupon   104.219 (-0.047)  
  Thursday,  August 5, 2021

Futures rises ahead of Jobs Data, Dollar Declines, Initial Unemployment Claims Decline

The Market opened today's session with treasuries lower across all maturities. The 10-Year Treasury yield is currently at 1.1836, 0.16 bps higher than prior closing of 1.1820.
U.S. equity futures along with stocks in Europe traded higher on mixed corporate earnings balancing the investors' concern on the threat to the economic recovery from the spread of the delta virus variant. Contracts on the S&P 500 and Nasdaq 100 showed moderate gains as traders awaited the latest U.S. jobs data due on Friday. With stocks at or near record highs investors are concerned about the fast-spreading delta strain of the coronavirus which is affecting economic growth. Crude oil was steady after several days of losses. The dollar declined against major peers. U.S. Initial Unemployment claims decline for a second week totaled 385,000 in the week ended July 31, down 14,000 from the prior week. Continuing claims for state benefits fell to 2.93 million in the week ended July 24. Improvement in business conditions and fewer dismissals led to the downward trend in jobless claims
The curve has bear-flattened with the UST 10-Year yield up 0.16 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 - -1.70% 5.70% 7.00%  
  08/04 ADP Employment Change 05:15 Jul 690k 330k 692k 680k  
  08/05 Initial Jobless Claims 05:30 31 Jul 383k 385k 400k 399k  
  08/05 Continuing Claims 05:30 24 Jul 3255k 2930k 3269k 3296k  
  08/06 Change in Nonfarm Payrolls 05:30 Jul 870k - 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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