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Market Commentary

Market Commentary

Today's Coupons
  10-Year Notes   1.329%  
  Support   1.480%  
  Resistance   1.267%  
  FN 2.5% Coupon   103.937 (-0.031)  
     Friday, September 10, 2021

U.S. Index Futures Increases, U.S. Producer Prices Increase, Dollar Declines

The Market opened today's session with treasuries lower across all maturities. The 10-year Treasury yield is currently at 1.3225, 2.54 bps higher than prior closing of 1.2971.

U.S. index futures increased as investors are less likely to be concerned about stimulus tapering by central banks and China’s regulatory crackdown. December contracts on the S&P 500 rose 0.4% and Stoxx Europe 600 increased 0.30%. U.S. producers prices increased 0.70% in August from the prior month and 8.3% from a year ago. Various challenges like labor expenses, shipping bottlenecks and materials shortages led to increase in production cost. Economists downgraded growth prospects for the remainder of the year to 5% due to higher inflation, supply challenges and rapidly spreading delta variant of the coronavirus. Bitcoin fluctuated between gains and losses whereas Oil increased. The dollar slid against the major competitors after an increase in U.S. wholesale prices.

The curve has bear-steepened with the UST 10-Year yield up 2.54 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% 0.70% 1.00% -  
  09/10 PPI Final Demand YoY 05:30 Aug 8.20% 8.30% 7.80% -  
  09/10 Wholesale Inventories MoM 07:00 Jul F 0.60% 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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