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Market Commentary

Market Commentary

Today's Coupons
  10-Year Notes   1.484%  
  Support   1.421%  
  Resistance   1.249%  
  FN 2.5% Coupon   103.141 (-0.094)  
     Monday, September 27, 2021

U.S. Futures Fall Amidst Energy Crisis

The Market opened today's session with treasuries lower across all maturities. The 10-year Treasury yield is currently at 1.4820, 3.11 bps higher than prior closing of 1.4509.

A cautious stance is returning to the markets as traders keep a watchful eye on the fallout of China's Evergrande debt woes and the energy crisis. The futures on the S&P 500 Index declined by 0.30% while Nasdaq 100 futures slipped by 0.80%. The Stoxx Europe 600 fell 0.20% as it braces for shocks since the elections in Germany didn’t have a clear majority and there is skepticism over the leadership. The global markets will be preparing for an energy crisis for the days to come. This has caused the crude oil prices to rise to a price level of $75 per barrel. The US Dollar was unchanged with respect to its peers. As per the latest stats, total durable goods had sustained the recovery with the orders increasing by 1.80% this august.

The curve has bear-steepened with the UST 10-Year yield up 3.11 bps.

This Week's Events
  09/27 Durable Goods Orders 05:30 Aug P 0.70% 1.80% -0.10% 0.50%  
  09/27 Durables Ex Transportation 05:30 Aug P 0.50% 0.20% 0.80% -  
  09/28 Wholesale Inventories MoM 05:30 Aug P 0.80% - 0.60% -  
  09/28 FHFA House Price Index MoM 06:00 Jul 1.50% - 1.60% -  
  09/29 MBA Mortgage Applications 04:00 24-Sep - - 4.90% -  
  09/29 Pending Home Sales MoM 07:00 Aug 1.00% - -1.80% -  
  09/30 Initial Jobless Claims 05:30 25-Sep 330k - 351k -  
  09/30 Continuing Claims 05:30 18-Sep 2800k - 2845k -  
  10/01 PCE Deflator MoM 05:30 Aug 0.30% - 0.40% -  
  10/01 PCE Deflator YoY 05:30 Aug 4.20% - 4.20% -  
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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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