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Market Commentary


 
 
Today's Coupons
 
  10-Year Notes   1.508%  
 
  Support   1.451%  
 
  Resistance   1.258%  
 
  FN 2.5% Coupon   103.031 (+0.187)  
 
 
 
 
     Wednesday, September 29, 2021
 
 

US Stocks Rebound After a Major Decline, Gaining Consumer Confidence Still a concern

 
 
The Market opened today's session with treasuries higher across all maturities. The 10-year Treasury yield is currently at 1.5219, 1.55 bps lower than prior closing of 1.5374.

After facing the worst session yesterday with S&P 500 slumping 2.00%, Nasdaq 100 tanking 2.80%, Dow shrinking over 500 pts to its lowest close in more than two months, Wall Street rebounded today as Dip buyers returned to global markets, and sent stocks higher and Treasury yields lower. Futures on the digital-heavy Nasdaq 100 Index climbed 0.60%, S&P 500 rose 0.50% providing breather to investors concerned about valuations. While that might suggest a positive outlook but decline in the Conference Board’s consumer confidence index to a seven-month low prolonged worries among investors that rising US virus cases and elevated inflation might lead to a strong impact in retail spending reported in August. Oil slid to $75.08 a barrel after an increase in U.S. crude stockpiles. Gold futures ascended 0.10% to $1,739.90 an ounce. MBA mortgage applications index fell 1.10% in week ended September 24. Purchases were down 1.20% whereas Refinances declined 0.90%. Average 30-yr fixed rate was 3.10%. Europe’s Stoxx 600 gauge rebounded from a two-month low as European Central Bank policy panel discussion approached near.

The curve has bull-flattened with the UST 10-Year yield down 1.55 bps.

 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  09/27 Durable Goods Orders 05:30 Aug P 0.70% 1.80% -0.10% 0.50%  
                   
  09/27 Durables Ex Transportation 05:30 Aug P 0.50% 0.20% 0.80% -  
                   
  09/28 Wholesale Inventories MoM 05:30 Aug P 0.80% 1.20% 0.60% -  
                   
  09/28 FHFA House Price Index MoM 06:00 Jul 1.50% 1.40% 1.60% 1.70%  
                   
  09/29 MBA Mortgage Applications 04:00 24-Sep - -1.10% 4.90% -  
                   
  09/29 Pending Home Sales MoM 07:00 Aug 1.40% 8.10% -1.80% -2.00%  
                   
  09/30 Initial Jobless Claims 05:30 25-Sep 330k - 351k -  
                   
  09/30 Continuing Claims 05:30 18-Sep 2800k - 2845k -  
                   
  10/01 PCE Deflator MoM 05:30 Aug 0.30% - 0.40% -  
                   
  10/01 PCE Deflator YoY 05:30 Aug 4.20% - 4.20% -  
                   
 
 
 
 
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