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Market Commentary

Market Commentary

Today's Coupons
  10-Year Notes   1.525%  
  Support   1.508%  
  Resistance   1.276%  
  FN 2.5% Coupon   102.828 (+0.125)  
     Thursday, October 14, 2021

U.S. Futures Rise, Oil Surges


The Market opened today's session with treasuries lower across all maturities. The 10-year Treasury yield is currently at 1.5386, 0.18 bps higher than prior closing of 1.5368.

Global equity traders are looking past inflation pressures as earnings season gets underway. The futures on the NASDAQ 100 advanced by 1%. The MSCI Asia Pacific Index rose by 0.70% and the Stoxx Europe 600 advancing by 1%, with the tech and the miners shares leading the gains. The debate among the policy makers in regards with inflation continues as to whether the inflation is transitory or structural. Oil is trading close to $81.50 a barrel after an International Energy Agency report said the shortage of natural gas in Europe and Asia is deepening the already sizable supply deficit in crude markets. The PPI increased by 0.50% from last month while it increased by 8.60% from last year. The core PPI rose by 0.2% from month while it rose by 8.7% y-o-y basis. The unemployment claims declined this week to a total of 293,000 this week while the continuing claims also dropped to $2.6 million.

The curve has bear-steepened with the UST 10-Year yield up 0.18 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 - 0.20% -6.90% -  
  10/13 CPI MoM 05:30 Sep 0.30% 0.40% 0.30% -  
  10/14 Initial Jobless Claims 05:30 09-Oct 320k 293k 326k 329k  
  10/14 Continuing Claims 05:30 02-Oct 2670k 2593k 2714k 2727k  
  10/15 Import Price Index YoY 05:30 Sep 9.40% - 9.00% -  
  10/15 U. of Mich. Sentiment 07:00 Oct P 73.00 - 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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