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Market Commentary

Market Commentary

Today's Coupons
  10-Year Notes   1.491%  
  Support   1.451%  
  Resistance   1.258%  
  FN 2.5% Coupon   103.234 (+0.078)  
     Friday, October 01, 2021

U.S. Stocks, Futures Advance, Dollar Declines, USA's BEA Releases Report on Personal Income

The Market opened today's session with treasuries higher across all maturities. The 10-year Treasury yield is currently at 1.4823, 0.50 bps lower than prior closing of 1.4873.

The third quarter ended in red as US equities lost ground later in the session, with the S&P 500 down 1.19%, shrinking most in the last half hour of the trading day, higher bond prices breaking a bearish streak in treasuries. The ray of hope came today morning as Equity-index futures recovered, as a string of positive corporate news helped to offset investor concerns over growth, inflation and Federal Reserve tapering, raising the Futures on the S&P 500 Index 0.50%. U.S Bureau of Economic Analysis (BEA) released its August report today. Personal income increased $35.50 billion, while consumer spending increased $130.50 billion. A moderate increase in income associated with a larger rise in spending lowered the savings rate from 10.10% to 9.40%. The increase in personal income unveiled increment in compensation as well as government social benefits. The largest cryptocurrency Bitcoin gained as much as 10% to $47,884 early in New York trading before paring gains. The dollar fell after a two-month rally due to Fed’s Hawkish driven Monetary Policy. Europe’s Stoxx 600 gauge pared its declines, but stayed on course for the worst weekly retreat since February. 

The curve has bull-steepened with the UST 10-Year yield down 0.50 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% 1.20% 0.60% -  
  09/28 FHFA House Price Index MoM 06:00 Jul 1.50% 1.40% 1.60% 1.70%  
  09/29 MBA Mortgage Applications 04:00 24-Sep - -1.10% 4.90% -  
  09/29 Pending Home Sales MoM 07:00 Aug 1.40% 8.10% -1.80% -2.00%  
  09/30 Initial Jobless Claims 05:30 25-Sep 330k 362k 351k -  
  09/30 Continuing Claims 05:30 18-Sep 2790k 2802k 2845k 2820k  
  10/01 PCE Deflator MoM 05:30 Aug 0.30% 0.40% 0.40% -  
  10/01 PCE Deflator YoY 05:30 Aug 4.20% 4.30% 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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