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Market Commentary

Market Commentary

Today's Coupons
  10-Year Notes   1.334%  
  Support   1.480%  
  Resistance   1.267%  
  FN 2.5% Coupon   103.875 (+0.047)  
     Thursday, September 09, 2021

U.S. Futures Recover Losses, Initial Jobless Claims Falls

The Market opened today's session with treasuries lower across all maturities. The 10-year Treasury yield is currently at 1.3410, 0.34 bps higher than prior closing of 1.3376.

U.S. futures recovered initial losses as there was a decline in application for unemployment benefits last week. Contracts on the S&P 500 Index were down about 0.10%. Investors are concerned about the timeline of stimulus tapering by central banks amid the fast spreading delta variant of coronavirus. China’s regulatory crackdown on the technology sector led to the decline in the stocks listed while the U.S. Dollar declined 0.10% against the Euro. Oil declined after China released oil from its reserves to fight high prices. Initial jobless claims fell by 35k to 310k in the week ended September 4 and total continued claims in all programs declined to 11.90 million in the week ended August 21.

The curve has bear-flattened with the UST 10-Year yield up 0.34 bps.

This Week's Events
  09/08 MBA Mortgage Applications 04:00 3-Sep - -1.90% -2.40% -  
  09/08 JOLTS Job Openings 07:00 Jul 10049k 10934k 10073k 10185k  
  09/09 Initial Jobless Claims 05:30 4-Sep 335k 310k 340k 345k  
  09/09 Continuing Claims 05:30 28-Aug 2740k 2783k 2748k 2805k  
  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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