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Market Commentary

Market Commentary

Today's Coupons
  10-Year Notes   1.381%  
  Support   1.441%  
  Resistance   1.255%  
  FN 2.5% Coupon   103.359 (-0.281)  
     Thursday, September 23, 2021

U.S. Futures Continue Gains after Federal Reserve Conference

The Market opened today's session with treasuries lower across all maturities. The 10-year Treasury yield is currently at 1.3652, 6.46 bps higher than prior closing of 1.3006.

U.S. stocks extended their two-day rally after the Federal Reserve decision met expectations. The Fed signaled that they are on track to start scaling back on asset purchases. There is confidence amongst investors that the market can ride out the Fed pulling back on stimulus. futures contracts on the S&P 500 and NASDAQ 100 rose 0.60% each as the Fed announced the decision of curtailing asset purchases this year. The Stoxx Europe 600 index rose by 0.80% with the tech and utility stocks leading the rally. The Oil prices declined by 0.40% while the gold rose. The bitcoin remained firm at $44,000. Initial unemployment claims rose to 351,000 this week. The Chicago Fed August National Activity Index was reported at 0.29. 

The curve has bear-steepened with the UST 10-Year yield up 6.46 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 351k 332k 335k  
  09/23 Continuing Claims 05:30 11-Sep 2600k 2845k 2665k 2714k  
  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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