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Market Commentary



 
Today's Coupons
 
  10-Year Notes   1.332%  
 
  Support   1.480%  
 
  Resistance   1.267%  
 
  FN 2.5% Coupon   103.750 (-0.094)  
 
 
 
 
     Friday, September 03, 2021
 
 

U.S. Futures Fluctuate after Weaker Job Data, Dollar Declines

 
 
The Market opened today's session with treasuries lower across all maturities. The 10-year Treasury yield is currently at 1.3173, 3.38 bps higher than prior closing of 1.2835.

U.S. Futures fluctuated after job data came out to be weaker than the estimate. S&P 500 contracts remained unchanged and Futures on the Nasdaq 100 fell 0.10%. Nonfarm payrolls increased 235,000 in the August month, far less than the estimate of 733,000. The unemployment rate fell to 5.2%. Average hourly earnings rose 0.60% m/m. The reduction in hiring reflects fears about the spreading delta variant of coronavirus. Increase in infection also affected the consumer activities and return to office plans. Investors are now concerned about the economic recovery as the Federal Reserve is planning to taper stimulus. Dollar declined after the report whereas the Gold increased. The yield on the 10-year Treasury note changed its direction after an initial decline.

The curve has bear-steepened with the UST 10-Year yield up 3.38 bps.

 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  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 733k 235k 943k 1053k  
                   
  09/03 Markit US Services PMI 06:45 Aug F 55.20 55.10 55.20 -  
                   
 
 
 
 
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