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Market Commentary

Market Commentary

Today's Coupons
  10-Year Notes   1.598%  
  Support   1.508%  
  Resistance   1.276%  
  FN 2.5% Coupon   102.594 (+0.016)  
     Tuesday, October 12, 2021

U.S. Futures Fall, Small-Business Owners Optimism Index Dropped

The Market opened today's session with treasuries higher across all maturities. The 10-year Treasury yield is currently at 1.6066, 0.52 bps lower than prior closing of 1.6118.

U.S. equity futures were down as traders assessed inflationary pressures from rising energy prices and signs of widening regulatory scrutiny by China. Nasdaq and S&P 500 futures fell 0.10%. Treasury yields dipped to trade near 1.60%, after briefly falling below the threshold. The National Federation of Independent Business optimism index manifesting sentiment among U.S. small-business owners, decreased by 1 point to 99.10 in September, the lowest since March, as owners grew more pessimistic about the economy amid ongoing labor and supply chain challenges. Oil was hovering near $80 a barrel this morning as shortages of coal and natural gas heading into the Northern Hemisphere winter are expected to keep demand high. Bitcoin was steady near the $57,000 level and the dollar was a touch lower. European equities climb off the lows after having lost over 1.00% in early trade. Euro Stoxx 50 is down 0.30%. The MBA Purchase Index is down (seasonally adjusted) 1.70%, and the Refinance Index (not seasonally adjusted) was down 9.60% for the week, and is down 36.00% from the high in January.

The curve has bull-flattened with the UST 10-Year yield down 0.52 bps.

This Week's Events
  10/12 NFIB Small Business Optimism 03:00 Sep 99.50 99.10 100.10 -  
  10/12 JOLTS Job Openings 07:00 Aug 10954k 10439k 10934k 11098k  
  10/13 MBA Mortgage Applications 04:00 08-Oct - - -6.90% -  
  10/13 CPI MoM 05:30 Sep 0.30% - 0.30% -  
  10/14 Initial Jobless Claims 05:30 09-Oct 320k - 326k -  
  10/14 Continuing Claims 05:30 02-Oct 2675k - 2714k -  
  10/15 Import Price Index YoY 05:30 Sep 9.40% - 9.00% -  
  10/15 U. of Mich. Sentiment 07:00 Oct P 73.40 - 72.80 -  
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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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