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Market Commentary


 
 
Today's Coupons
 
  10-Year Notes   1.322%  
 
  Support   1.569%  
 
  Resistance   1.295%  
 
  FN 2.5% Coupon   103.687 (-0.031)  
 
 
 
 
  Tuesday, August 10, 2021
 
 

U.S. Futures Fluctuates, Stocks Rises, Productivity Rises Less Than Expected

 
 
The Market opened today's session with treasuries higher across all maturities. The 10-year Treasury yield is currently at 1.3152, 0.85 bps lower than prior closing of 1.3237.

U.S. futures fluctuate as investors are concerned about scaling back of stimulus measures by the Federal Reserve. European stocks climbed to a record on positive earnings. The Stoxx 600 Index rose whereas Contracts on the S&P 500 Index were little changed, while those on the Nasdaq 100 were higher. The spread of delta variants in the world has raised concern regarding the economic recovery. New coronavirus cases in the U.S. touched to the highest weekly level since early February. Productivity in the U.S. rose less than expected in the second quarter. Nonfarm business employee output per hour increased at a 2.30% annualized rate in the second quarter as compared to a  4.30% rate in the first quarter. The numbers were projected to be 3.20% as per survey of economists. Unit labor costs rose at a 1.00% rate following a 2.80% decline in the previous quarter. U.S. small-business optimism index decreased 2.80 points to 99.70 as owners are concerned about the fall of future sales and the economy. Crude oil reversed its direction towards the positive line on the stake that the global demand recovery will remain unaffected despite the fast spreading delta virus variant.

The curve has bull-flattened with the UST 10-Year yield down 0.85 bps.

 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  08/09 JOLTS Job Openings 07:00 Jun 9270k 10073k 9209k 9483k  
                   
  08/10 NFIB Small Business Optimism 03:00 Jul 102.00 99.7 102.50 -  
                   
  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 2890k - 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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