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Market Commentary

Market Commentary

Today's Coupons
  10-Year Notes   1.285%  
  Support   1.569%  
  Resistance   1.295%  
  FN 2.5% Coupon   103.953 (+0.125)  
  Monday, August 9, 2021

Futures Declines, Commodities Falls on Virus Concern

The Market opened today's session with treasuries higher across all maturities. The 10-year Treasury yield is currently at 1.2716, 2.53 bps lower than prior closing of 1.2969.

U.S. equity futures declined and commodities fell as investors are concerned about an increase in the fast-spreading delta virus variant and pullback in stimulus. Contracts on the S&P 500 and Dow Jones Industrial fell, while those on the Nasdaq 100 traded slightly higher. The Stoxx 600 Index remained unchanged as gains in technology firms offset declines in energy shares and miners. The U.S. 10-year Treasury yield slipped to 1.27%, while the dollar remained unchanged. Crude oil declined to the lowest in three weeks on concern of falling demand due to virus spread.  The U.S. consumer price index numbers are due on Wednesday.

The curve has bull-flattened with the UST 10-Year yield down 2.53 bps.

This Week's Events
  08/09 JOLTS Job Openings 07:00 Jun 9270k 10073k 9209k 9483k  
  08/10 NFIB Small Business Optimism 03:00 Jul 102.00 - 102.50 -  
  08/11 MBA Mortgage Applications 04:00 6-Aug - - -1.70% -  
  08/11 CPI MoM 05:30 Jul 0.50% - 0.90% -  
  08/11 CPI YoY 05:30 Jul 5.30% - 5.40% -  
  08/12 Initial Jobless Claims 05:30 7-Aug 375k - 385k -  
  08/12 Continuing Claims 05:30 31-Jul 2880k - 2930k -  
  08/13 Import Price Index YoY 05:30 Jul 10.50% - 11.20% -  
  08/13 U. of Mich. Sentiment 07:00 Aug P 81.20 - 81.20 -  
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