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Market Commentary


 
 
Today's Coupons
 
  10-Year Notes   98-16 (-01)  
 
  FN 2.5% Coupon   105-10.5 (-00.5)  
 
  Support   0.902%  
 
  Resistance   0.658%  
 
 
 
 
  Tuesday, January 26, 2021
 
 

Treasury Yields Rise as Markets Open Mixed

 
 
Market opened today's session with treasuries lower across all maturities. 10-Year Treasury yield is at 1.0414, 1.19 bps increased from prior closing of 1.0295.
US stocks opened this morning mixed, with President Joe Biden open to negotiating his $1.9 trillion COVID-19 relief proposal. Notable gainers include GameStop Corp., which extended yesterday's gains, even as the retailer continued to be heavily shorted. In Europe, markets opened higher with Natural Energy Group SA rising 18% as IFM Global Infrastructure offered to buy a position within the utility company. Swedish EQT AB also saw gains of up to 22% early morning following an agreement to take over Exeter Property Group for $1.9 billion. Elsewhere Bitcoin lowered below $32,000, meanwhile WTI Crude rose by 0.3% and Gold remained at $1,856.44 an ounce. On the economic front, the Conference Board for Consumer Confidence slightly beat expectations for the month of January after reporting at 89.30. Signalling Americans have an upbeat outlook on both the economy and labor market, the core sentiment headwind continued to center around the pandemic, with sentiment surrounding current conditions decreasing to 84.40, the worst reading since May. Reporting tomorrow are MBA Mortgage Applications, Durable Good Orders, and FOMC Rate Decision, the latter two expected at 1.00% and 0.25% for upper bound, respectively.
The curve has bear-steepened with UST 10-Year yield up 1.19 bps.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  01/25 Chicago Fed Nat Activity Index 05:30 Dec 0.10 0.52 0.27 0.31  
                   
  01/26 S&P CoreLogic CS 20-City YoY NSA 06:00 Nov 8.70% 9.08% 7.95% 8.01%  
                   
  01/26 S&P CoreLogic CS 20-City MoM SA 06:00 Nov 1.00% 1.42% 1.61% 1.59%  
                   
  01/26 Conf. Board Consumer Confidence 07:00 Jan 89.00 89.30 88.60 87.10  
                   
  01/26 Richmond Fed Manufact. Index 07:00 Jan 19.00 14.00 19.00 -  
                   
  01/27 MBA Mortgage Applications  04:00 22 Jan - - -1.90% -  
                   
  01/27 Durable Goods Orders 05:30 Dec P 1.00% - 1.00% -  
                   
  01/28 Initial Jobless Claims 05:30 23 Jan 875k - 900k -  
                   
  01/28 Continuing Claims 05:30 16 Jan 5100k - 5054k -  
                   
  01/28 GDP Price Index 05:30 4Q A 2.20% - 3.50% -  
                   
  01/28 Bloomberg Consumer Comfort 06:45 24 Jan - - 43.70 -  
                   
  01/28 Leading Index 07:00 Dec 0.30% - 0.60% -  
                   
  01/29 PCE Deflator MoM 05:30 Dec 0.30% - 0.00% -  
                   
  01/29 PCE Deflator YoY 05:30 Dec 1.20% - 1.10% -  
                   
  01/29 U. of Mich. Sentiment 07:00 Jan F 79.20 - 79.20 -  
                   
 
 
 
 
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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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