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Market Commentary

Market Commentary

Today's Coupons
  10-Year Notes   1.238%  
  Support   1.553%  
  Resistance   1.290%  
  FN 2.5% Coupon   103.922 (+0.125)  
  Monday, August 16, 2021

Stocks and Futures Falls amid Spread of Delta

The Market opened today's session with treasuries higher across all maturities. The 10-year Treasury yield is currently at 1.2717, 0.50 bps lower than prior closing of 1.2767.

U.S. Futures fell as the investors are concerned about the global economic recovery due to spread of the delta variant of coronavirus and weak Chinese data. Contracts on the S&P 500 Index declined 0.40%. Slowness in Chinese retail sales and industrial output led to the decline in Commodities. Equities in the U.S. and Europe hit records last week supported by vaccine roll outs. But the European stocks lowered today due to increasing risk from the delta variant. The retail and commodity stocks dragged the Stoxx Europe 600 Index after a 10-day streak without a loss. Bit coin traded around $47,400. Crude oil dropped as investors are concerned about slowing global demand due to rising Covid cases.

The curve has bull-flattened with the UST 10-Year yield down 0.50 bps.

This Week's Events
  08/16 Empire Manufacturing 05:30 Aug 28.50 18.30 43.00 -  
  08/17 Business Inventories 07:00 Jun 0.80% - 0.50% -  
  08/18 MBA Mortgage Applications 04:00 13-Aug - - 2.80% -  
  08/18 Building Permits MoM 05:30 Jul 1.00% - -5.10% -5.30%  
  08/18 Building Permits 05:30 Jul 1610k - 1598k 1594k  
  08/19 Initial Jobless Claims 05:30 14-Aug 365k - 375k -  
  08/19 Continuing Claims 05:30 7-Aug 2800k - 2866k -  
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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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