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Market Commentary

Market Commentary

Today's Coupons
  10-Year Notes   1.382%  
  Support   1.441%  
  Resistance   1.255%  
  FN 2.5% Coupon   103.453 (-0.141)  
     Friday, September 17, 2021

U.S. Futures Decline, Dollar Steady

The Market opened today's session with treasuries lower across all maturities. The 10-year Treasury yield is currently at 1.3480, 1.02 bps higher than prior closing of 1.3378.

U.S. equity futures declined as traders were concerned about the global recovery amid threat from delta virus strain and risk from China. Commodity prices Index dipped, inducing the inflation concerns rippling across the world economy. The investors are anticipating some relief from the Fed Meeting next week as the delta variant continues to spread. Crude Oil Continuous contract was hovering around $72.35, while gold advanced to $1,755.10 per ounce. Bitcoin prices slipped to trade below $48,000 level. Funding costs remained historically low with the 10-year Treasury yield at 1.34%. The dollar was unchanged against its peers.

The curve has bear-steepened with the UST 10-Year yield up 1.02 bps.

This Week's Events
  09/14 CPI MoM 05:30 Aug 0.40% 0.30% 0.50% -  
  09/14 CPI YoY 05:30 Aug 5.30% 5.30% 5.40% -  
  09/15 MBA Mortgage Applications 04:00 10-Sep - 0.30% -1.90% -  
  09/15 Import Price Index YoY 05:30 Aug 9.40% 9.00% 10.20% 10.30%  
  09/16 Initial Jobless Claims 05:30 11-Sep 322k 332k 310k 312k  
  09/16 Continuing Claims 05:30 4-Sep 2740k 2665k 2783k 2852k  
  09/17 U. of Mich. Sentiment 07:00 Sep P 72.00 - 70.30 -  
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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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