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Market Commentary

Market Commentary

Today's Coupons
  10-Year Notes   1.309%  
  Support   1.441%  
  Resistance   1.255%  
  FN 2.5% Coupon   103.672 (+0.016)  
     Tuesday, September 21, 2021

U.S. Stocks Recover from Biggest Drop since May

The Market opened today's session with treasuries lower across all maturities. The 10-year Treasury yield is currently at 1.3158, 0.51 bps higher than prior closing of 1.3107.

U.S. and European futures rebounded from Monday’s losses which was led by concerns over China Evergrande Group’s debt problems. Investors are now concentrating on the Fed’s two-day meeting which starts on Tuesday. The expectation is that the Federal Reserve will start laying the groundwork for pairing stimulus. The S&P 500 rose 0.5%, the NASDAQ 100 rose 0.40% and the Dow Jones Industrial Average rose 0.6%. In Europe, energy companies led the advance as the Stoxx 600 rose 1.20% and bounced back from it’s biggest fall in over two months.

The curve has bear-steepened with the UST 10-Year yield up 0.51 bps.

This Week's Events
  09/21 Building Permits MoM 05:30 Aug -1.80% 6.00% 2.60% 2.30%  
  09/21 Building Permits 05:30 Aug 1600k 1728k 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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