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Market Commentary

Market Commentary

Today's Coupons
  10-Year Notes   1.300%  
  Support   1.480%  
  Resistance   1.267%  
  FN 2.5% Coupon   103.750 (-0.047)  
     Thursday, September 02, 2021

U.S. Futures Increases, Dollar Remains Steady, Initial Jobless Claims Decline

The Market opened today's session with treasuries higher across all maturities. The 10-year Treasury yield is currently at 1.2835, 1.01 bps lower than prior closing of 1.2936.

U.S. equity futures increased ahead of the U.S. jobs data which are due on Friday. S&P 500 futures increased 0.20%, The Stoxx Europe 600 increased led by energy firms and healthcare stocks. Traders are awaiting the key payroll data for indications on the economy and its implications on the Fed’s tapering plan.  Oil increased. The dollar remained unchanged. Bitcoins were trading around $50,000. Applications for U.S. state unemployment benefits fell to 340,000 in the week ended August 28. Continuing claims for state benefits declined to 2.7 million in the week ended August 21. Initial claims are declining due to reopening of the economy and increase in demand for workers.

The curve has bull-flattened with the UST 10-Year yield down 1.01 bps.

This Week's Events
  08/30 Pending Home Sales MoM 07:00 Jul 0.30% -1.80% -1.90% -2.00%  
  08/31 FHFA House Price Index MoM 06:00 Jun 1.90% 1.60% 1.70% 1.80%  
  08/31 S&P CoreLogic CS 20-City MoM SA 06:00 Jun 1.80% 1.77% 1.81% -  
  09/01 MBA Mortgage Applications 04:00 27-Aug - -2.40% 1.60% -  
  09/01 ADP Employment Change 05:15 Aug 625k 374k 330k 326k  
  09/02 Initial Jobless Claims 05:30 28-Aug 345k 340k 353k 354k  
  09/02 Continuing Claims 05:30 21-Aug 2808k 2748k 2862k 2908k  
  09/03 Change in Nonfarm Payrolls 05:30 Aug 725k - 943k -  
  09/03 Markit US Services PMI 06:45 Aug F 55.20 - 55.20 -  
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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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