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Market Commentary

Market Commentary

Today's Coupons
  10-Year Notes   1.315%  
  Support   1.518%  
  Resistance   1.279%  
  FN 2.5% Coupon   103.750 (+0.172)  
     Friday, August 27, 2021

U.S. Futures Increase, U.S. Personal Spending Grows Moderately

The Market opened today's session with treasuries higher across all maturities. The 10-year Treasury yield is currently at 1.3323, 1.68 bps lower than prior closing of 1.3491.

U.S. equity-index futures increased whereas European stocks were little changed as the investors are awaiting the Federal Reserve Meeting which might provide some insights on tapering stimulus.  Futures on the S&P 500 and the Nasdaq 100 increased and the Stoxx Europe 600 was little changed. The U.S. merchandise-trade deficit reduced to $86.4 billion as Imports declined 1.40% to $233.9 billion and Exports increased 1.5% to $147.5 billion. U.S. personal spending growed moderately in July. Purchases of goods and services rose 0.30% and Personal incomes increased by 1.1% in July. Crude Oil was trading around $69.01 a barrel. Treasury yields and the dollar was steady against the major currencies.  

The curve has bull-flattened with the UST 10-Year yield down 1.68 bps.

This Week's Events
  08/23 Chicago Fed Nat Activity Index 05:30 Jul 0.12 0.53 0.09 -0.01  
  08/23 Markit US Manufacturing PMI 06:45 Aug P 62.00 61.20 63.40 -  
  08/23 Markit US Services PMI 06:45 Aug P 59.20 55.20 59.90 -  
  08/24 Richmond Fed Manufact. Index 07:00 Aug  24.00 9.00 27.00 -  
  08/24 New Home Sales 07:00 Jul 697k 708k 676k 701k  
  08/25 MBA Mortgage Applications 05:00 20-Aug - 1.60% -3.90% -3.90%  
  08/25 Durable Goods Orders 05:30 Jul P -0.30% -0.10% 0.90% 0.80%  
  08/26 GDP Annualized QoQ 05:30 2Q S 6.70% 6.60% 6.50% -  
  08/26 Initial Jobless Claims 05:30 21-Aug 350k 353k 348k 349k  
  08/27 PCE Deflator YoY 05:30 Jul 4.10% 4.20% 4.00% -  
  08/27 PCE Deflator MoM 05:30 Jul 0.40% 0.40% 0.50% -  
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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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