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Market Commentary

Market Commentary

Today's Coupons
  10-Year Notes   1.323%  
  Support   1.441%  
  Resistance   1.255%  
  FN 2.5% Coupon   103.687 (+0.094)  
     Monday, September 20, 2021

U.S. Futures Decline, Treasuries Rise

The Market opened today's session with treasuries higher across all maturities. The 10-year Treasury yield is currently at 1.3141, 4.75 bps lower than prior closing of 1.3616.

U.S. futures fell more than 1.00% as the global stock rout sparked by investor comprehension over China’s real estate crisis. The futures on the S&P 500 fell 1.80% while the futures on Nasdaq 100 fell 1.70%. The yield on 10-year Treasuries was 1.31%. The European markets declined the most in a year with the Stoxx Europe 600 index tumbling by 2.40%. Investors are fretting over a slowing global recovery from the pandemic and inflation stoked by commodity prices. The crypto market also declined with bitcoin dropping by 10.70% to $42,522. Gold price further advanced to $1756.90 per ounce. The dollar rose 0.30% in comparison with its peers.

The curve has bull-flattened with the UST 10-Year yield down 4.75 bps.

This Week's Events
  09/21 Building Permits MoM 05:30 Aug -1.80% - 2.60% 2.30%  
  09/21 Building Permits 05:30 Aug 1600k - 1635k 1630k  
  09/22 MBA Mortgage Applications 04:00 17-Sep - - 0.30% -  
  09/22 Existing Home Sales 07:00 Aug 5.88M - 5.99M -  
  09/23 Initial Jobless Claims 05:30 18-Sep 320k - 332k -  
  09/23 Continuing Claims 05:30 11-Sep 2610k - 2665k -  
  09/24 New Home Sales MoM 07:00 Aug 0.40% - 1.00% -  
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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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