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Market Commentary

Market Commentary

Today's Coupons
  10-Year Notes   1.380%  
  Support   1.606%  
  Resistance   1.306%  
  FN 2.5% Coupon   103.750 (-0.094)  
     Tuesday, September 07, 2021

U.S. Features Remain Steady after Volatile European

The Market opened today's session with treasuries lower across all maturities. The 10-year Treasury yield is currently at 1.3647, 4.24 bps higher than prior closing of 1.3223.

Futures on the S&P 500 and Nasdaq 100 indexes held steady even after European Equity losses. Equity investors are tense and dollar bulls made a comeback as fears linger of a reduction of central bank stimulus offset China’s better-than-forecast trade data. China’s exports and imports exceeded expectations for the month of August holding back concerns that the pandemic is delaying the economic reopening. The Stoxx 600 dropped 0.30% as investors focused on the ECB’s Thursday meeting where they will decide on the future of the emergency stimulus. Treasury Yields rose and the dollar advanced the most since August 26. Bitcoin fell 1.90%.

The curve has bear-steepened with the UST 10-Year yield up 4.24 bps.

This Week's Events
  09/08 MBA Mortgage Applications 04:00 3-Sep - - -2.40% -  
  09/08 JOLTS Job Openings 07:00 Jul 10000k - 10073k -  
  09/09 Initial Jobless Claims 05:30 4-Sep 335k - 340k -  
  09/09 Continuing Claims 05:30 28-Aug 2720k - 2748k -  
  09/10 PPI Final Demand MoM 05:30 Aug 0.60% - 1.00% -  
  09/10 PPI Final Demand YoY 05:30 Aug 8.20% - 7.80% -  
  09/10 Wholesale Inventories MoM 07:00 Jul F 0.60% - 0.60% -  
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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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