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Market Commentary

Market Commentary

Today's Coupons
  10-Year Notes   1.321%  
  Support   1.441%  
  Resistance   1.255%  
  FN 2.5% Coupon   103.719 (+0.062)  
     Wednesday, September 22, 2021

U.S. Futures Advance, Fed Meeting Today

The Market opened today's session with treasuries higher across all maturities. The 10-year Treasury yield is currently at 1.3209, 0.17 bps lower than prior closing of 1.3226.

U.S. Stocks gained as China Evergrande Group’s debt fears eased. Investors also await Wednesday’s Federal Reserve policy decision. Led by the financial and energy sectors, U.S Futures opened with strong momentum with the S&P 500 rising 0.60% and Nasdaq 100 rising 0.40%. In Europe, the Stoxx 600 also advanced by 0.70%,with the Oil prices also rising. Today’s Fed’s decision is expected to provide a potential timeline for tapering stimulus and slow asst purchases in November. MBA mortgage applications index rose 4.90%, with the purchases up by 2.20% and refis increasing by 6.50%. Avg. 30-yr fixed rate 3.03%.

The curve has bull-flattened with the UST 10-Year yield down 0.17 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 - 4.90% 0.30% -  
  09/22 Existing Home Sales 07:00 Aug 5.89M 5.88M 5.99M 6.00M  
  09/23 Initial Jobless Claims 05:30 18-Sep 320k - 332k -  
  09/23 Continuing Claims 05:30 11-Sep 2600k - 2665k -  
  09/24 New Home Sales MoM 07:00 Aug 0.60% - 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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