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Market Commentary


 
 
Today's Coupons
 
  10-Year Notes   97-05.5 (-10.5)  
 
  FN 2.5% Coupon   104-22 (-04.5)  
 
  Support   0.920%  
 
  Resistance   0.665%  
 
 
 
 
  Tuesday, January 12, 2021
 
 

Treasury Yields Rise as Small Business Optimism Falls

 
 
Market opened today's session with treasuries lower across all maturities. 10-year Treasury yield is at 1.1718, 2.58 bps increased from prior closing of 1.1460.

US stocks opened mixed this morning with the consumer and energy sectors noting gains while utilities and industrials declined. In Europe, Zur Rose Group AG increased by as much as 15% after receiving a buy recommendation from Bank of America Corp. And in Malaysia, its corresponding stock benchmark fell by 1.6% following a state of emergency declaration by the king. Elsewhere, WTI Crude and Copper both saw gains of 1.0% and 1.6%, respectively. On the economic front, NFIB Small Business Optimism failed to beat expectations after lowering to 95.90 for the month of December. Reaching a seven month low, today's index figure reflects sales expectations of -4%, with business outlook by owners reaching the lowest level since April 2016. Reporting tomorrow are MBA Mortgage Applications and CPI MoM, with the latter expected to increase by 0.40%.

The curve has bear-steepened with UST 10-Year yield up 2.58 bps.

 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  01/12 NFIB Small Business Optimism 03:00 Dec 100.20 95.90 101.40 -  
                   
  01/12 JOLTS Job Openings 07:00 Nov 6450 6527 6652 6632  
                   
  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 786k - 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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