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Market Commentary


 

 
Today's Coupons
 
  10-Year Notes   97-21 (-02.5)  
 
  FN 2.5% Coupon   104-28 (-02.5)  
 
  Support   0.888%  
 
  Resistance   0.653%  
 
 
 
 
  Monday, January 11, 2021
 
 

Treasury Yields Rise as Markets Retract From Record Highs

 
 
Market opened today's session with treasuries lower across all maturities. 10-year Treasury yield is at 1.1256, 1.03 bps increased from prior closing of 1.1153.

US stocks opened lower this morning after having seen a four day rally last week. Notable early movers include Twitter Inc. and Facebook Inc., both seeing declines following a ban on President Donald Trump's social media accounts as a consequence of last week's Capitol invasion. Elsewhere, Bitcoin fell by 21% towards $33,151, meanwhile WTI crude and Gold both declined by 1.1% and 2.9%, respectively. Expected later this week on Thursday, president-elect Joe Biden will release his trillion dollar fiscal aid proposal, with $2,000 stimulus checks being targeted. Also reporting later this week on Thursday are Initial Jobless Claims for the week ending January 9, wth expectations set at 790K, a slight increase from prior reported claims of 787K. And on Friday, Retail Sales and Industrial Production will be reported, with expectations set at increases of 0.0% and 0.5%, respectively.

The curve has bear-steepened with UST 10-Year yield up 1.03 bps.

 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  01/12 NFIB Small Business Optimism 03:00 Dec 100.00 - 101.40 -  
                   
  01/12 JOLTS Job Openings 07:00 Nov 6400 - 6652 -  
                   
  01/13 MBA Mortgage Applications 04:00 8 Jan - - 1.70% -  
                   
  01/13 CPI MoM 05:30 Dec 0.40% - 0.20% -  
                   
  01/13 CPI YoY 05:30 Dec 1.30% - 1.20% -  
                   
  01/13 CPI Index NSA 05:30 Dec 260.401 - 260.229 -  
                   
  01/13 CPI Core Index SA 05:30 Dec 270.243 - 269.887 -  
                   
  01/14 Initial Jobless Claims 05:30 9 Jan 790k - 787k -  
                   
  01/14 Continuing Claims 05:30 2 Jan 5000k - 5072k -  
                   
  01/14 Bloomberg Consumer Comfort 06:45 10 Jan - - 44.40 -  
                   
  01/15 PPI Final Demand MoM 05:30 Dec 0.40% - 0.10% -  
                   
  01/15 PPI Final Demand YoY 05:30 Dec 0.80% - 0.80% -  
                   
  01/15 U. of Mich. Sentiment 07:00 Jan P 79.90 - 80.70 -
                   
 
 
 
 
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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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