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Market Commentary

Market Commentary

Today's Coupons
  10-Year Notes   1.329%  
  Support   1.553%  
  Resistance   1.290%  
  FN 2.5% Coupon   103.719 (+0.109)  
  Friday, August 13, 2021

Futures Fluctuates, Dollar Weakens, Oil Steady

The Market opened today's session with treasuries higher across all maturities. The 10-year Treasury yield is currently at 1.3506, 0.84 bps lower than prior closing of 1.3590.

U.S. equity futures fluctuated near record highs. European stocks were positive due to strong earnings season and economic recovery out of lock downs. Contracts on the S&P 500 Index showed small gains whereas Dow Industrials rose 0.20%. The investors are attracted towards the market as travel and reopening of the economy are taking place in the U.S. and Europe. Oil steadied at the end of a volatile week as the investors are concerned about the decline in demand due to the fast-spreading delta virus variant. U.S. July Export prices increased 1.30% m/m, 17.20% from previous year whereas Import prices Rose 0.30% m/m, 10.20% from previous year. Treasury yields declined. Bitcoin was traded around $46,000. The dollar weakened among the major competitors.

The curve has bull-flattened with the UST 10-Year yield down 0.84 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 99.7 102.50 -  
  08/11 MBA Mortgage Applications 04:00 6-Aug - 2.80% -1.70% -  
  08/11 CPI MoM 05:30 Jul 0.50% 0.50% 0.90% -  
  08/11 CPI YoY 05:30 Jul 5.30% 5.40% 5.40% -  
  08/12 Initial Jobless Claims 05:30 7-Aug 375k 375k 385k 387k  
  08/12 Continuing Claims 05:30 31-Jul 2900k 2866k 2930k 2980k  
  08/13 Import Price Index YoY 05:30 Jul 10.50% 10.20% 11.20% 11.30%  
  08/13 U. of Mich. Sentiment 07:00 Aug P 81.20 70.20 81.20 -  
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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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