Back to top

Market Commentary

Market Commentary

Today's Coupons
  10-Year Notes   1.545%  
  Support   1.579%  
  Resistance   1.304%  
  FN 2.5% Coupon   102.875 (+0.109)  
     Tuesday, November 02, 2021

U.S. Stocks Mixed, FOMC Meeting Begins


The Market opened today's session with treasuries lower across all maturities. The 10-year Treasury yield is currently at 1.5611, 0.54 bps higher than prior closing of 1.5557.

U.S. equity were mixed amid a mixed bag of earnings and valuations, deepening supply crunch and rising covid worries. Futures on the S&P 500 were little changed and Nasdaq 100 fell 0.20%. Yields on the two-year and five-year treasuries fell as traders pared back some global rate-hike bets. The Federal Reserve’s Open Market’s Committee began their two-day meeting. Bond and currency markets are bracing for the Fed to announce a scaling back of asset purchases as an initial step to eventually raising interest rates to contain inflation. Construction spending fell 0.50% unexpectedly in September and there was a net downward revision to the prior two months. Oil slid 0.90% to $83.31 a barrel as traders awaited a Thursday meeting of the OPEC+ grouping on output plans. Gold futures fell 0.30% to $1,790.70 an ounce. Iron-ore futures extended losses below $100 a ton on expectations of lower Chinese steel output. Europe’s Stoxx 600 gauge slipped 0.10% from a record high as miners and travel companies posted some of the biggest losses. MSCI Asia Pacific Index slipped 0.10% while Japan’s Topix index closed 0.60% lower.

The curve has bear-steepened with the UST 10-Year yield up 0.54 bps.

This Week's Events
  11/01 Markit US Manufacturing PMI 06:45 Oct F 59.20 58.40 59.20 -  
  11/01 Construction Spending MoM 07:00 Sep 0.30% -0.50% 0.00% 0.01%  
  11/03 MBA Mortgage Applications 04:00 29-Oct - - 0.30% -  
  11/03 ADP Employment Change 05:15 Oct 400k - 568k -  
  11/04 Initial Jobless Claims 05:30 30-Oct 275k - 281k -  
  11/04 Continuing Claims 05:30 23-Oct 2147k - 2243k -  
  11/05 Change in Nonfarm Payrolls 05:30 Oct 450k - 194k -  
Helpful Links
  Visit Us Online   Submit Loan  
  Get Approved   SeeMyLoanStatusTM  
  Download Rate Sheet   Conventional Program Guidelines  
  Price & Lock   Government Program Guidelines  
  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.  
  © Sun West Mortgage Company, Inc. All Rights Reserved

Sun West Mortgage Company, Inc. (NMLS ID #3277, is an Equal Opportunity Lender and licensed by the Department of Business Oversight under the California Financing Law License [Loans made or arranged pursuant to a California Financing Law license]; licensed in Arizona as Sun West Mortgage USA, Inc. (FN) and holds a Mortgage Banker License #BK-0909624, licensed in Connecticut as "Mortgage Possible" and holds Mortgage Lender License #19683, an Illinois Residential Mortgage Licensee, a Kansas licensed mortgage company License #MC.0025313, licensed by the Mississippi Department of Banking and Consumer Finance, licensed by the N.J. Department of Banking and Insurance, licensed Mortgage Banker - NYS Department of Financial Services, licensed in New Mexico as Sun West Mortgage USA, Inc. and holds a Mortgage Loan Company License #03201, licensed in Utah as Sun West Mortgage USA Company, Inc. and holds Residential First Mortgage Notification #UDFI-RFMN2015, Rhode Island Licensed Lender. Please refer to and to see where Sun West Mortgage Company, Inc. (NMLS ID 3277) is a licensed lender and servicer. In all jurisdictions, the principal (Main) licensed location of Sun West Mortgage Company, Inc. is 6131 Orangethorpe Avenue, Suite 500, Buena Park, CA 90620, Phone: (800) 453-7884.