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Market Commentary

Market Commentary


Today's Coupons
  10-Year Notes   1.656%  
  Support   1.576%  
  Resistance   1.297%  
  FN 2.5% Coupon   102.156 (+0.172)  
     Friday, October 22, 2021

U.S. Futures Fall As Supply-Chains Dominate Earnings


The Market opened today's session with treasuries higher across all maturities. The 10-year Treasury yield is currently at 1.6766, 2.45 bps lower than the prior closing of 1.7011.

Contracts on the S&P 500 were little changed and on the Nasdaq 100 fell 0.20% as problems with supply chains dominated the earnings season. The dollar edged lower on track for the second week of declines. The Federal Reserve seemed nearing a reduction in bond purchases. Bitcoin hovered around $63,000 after slipping back from its recent record. Gold futures rose 1.00% to $1,799.40 an ounce. Crude oil rose 0.90% to $83.22 a barrel. Stoxx 600 in Europe rose 0.60% after China Evergrande Group pulled back from the brink of a default, easing concerns about contagion from the property developer’s woes. Global stocks are set for a third weekly advance, helped by the ongoing global recovery from the health crisis. MSCI Asia Pacific Index gained 0.20% while Japan’s Topix index closed 0.10% higher.

The curve has bull-flattened with the UST 10-Year yield down 2.45 bps.

This Week's Events
  10/18 Capacity Utilization 06:15 Sep 76.40% 75.20% 76.40% 76.20%  
  10/19 Building Permits MoM 05:30 Sep -2.40% -7.70% 6.00% 5.60%  
  10/19 Building Permits 05:30 Sep 1680k 1589k 1728k 1721k  
  10/20 MBA Mortgage Applications 04:00 15-Oct - -6.30% 0.20% -  
  10/21 Initial Jobless Claims 05:30 16-Oct 297k 290k 293k 296k  
  10/21 Continuing Claims 05:30 09-Oct 2548k 2481k 2593k 2603k  
  10/22 Markit US Manufacturing PMI 06:45 Oct P 60.50 59.20 60.70 -  
  10/22 Markit US Services PMI 06:45 Oct P 55.20 58.20 54.90 -  
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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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