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Market Commentary



 
Today's Coupons
 
  10-Year Notes   1.555%  
 
  Support   1.576%  
 
  Resistance   1.297%  
 
  FN 2.5% Coupon   102.781 (+0.094)  
 
 
 
 
     Thursday, October 28, 2021
 
 

Optimistic Earning Give U.S. Equities a Boost

 
 

The Market opened today's session with treasuries lower across all maturities. The 10-year Treasury yield is currently at 1.5466, 0.53 bps higher than prior closing of 1.5413.

U.S stock rose as equity investors continue to concentrate on a busy earnings season. The third-quarter increase in economic growth wasn’t as low as some had suspected and an inflation gauge topped expectations. S&P 500 rose 0.50%, Nasdaq 100 increased 0.60% and shorter-maturity treasury yields also increased. Oil declined 0.70% to $82.09 a barrel as the dollar Weakened. As per a report, the U.S. economy expanded at an annual rate of 2.00% in the three months through September. U.S real gross domestic product (GDP) increased at an annual rate of 2.00% in the third quarter of 2021, following an increase of 6.70% in the second quarter. Initial jobless claims for the week ending October 23rd declined more than expected, down 10,000 to 281,000 and the lowest level of the pandemic. Gold futures rose 0.80% to $1,812.30 an ounce. The Mortgage Bankers Association’s application stats released yesterday showed that applications in the U.S. rose for the week ending October 22nd. The index was up 0.30%, with purchases rising 3.50%, while the refinance fell 1.60%. The Stoxx Europe 600 Index fluctuated between modest gains and losses, as the energy sector underperformed and concerns of higher inflation. Global stocks are still near all-time peaks, supported by a robust corporate earnings season so far, with profit margins widening on average despite cost pressures.

The curve has bear-flattened with the UST 10-Year yield up 0.53 bps.

 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  10/25 Chicago Fed Nat Activity Index 05:30 Sep 0.20 -0.13 0.29 0.05  
                   
  10/26 FHFA House Price Index MoM 06:00 Aug 1.50% 1.00% 1.40% -  
                   
  10/26 S&P CoreLogic CS 20-City MoM SA 06:00 Aug 1.50% 1.17% 1.55% 1.53%  
                   
  10/27 MBA Mortgage Applications 04:00 22-Oct - 0.30% -6.30% -  
                   
  10/27 Wholesale Inventories MoM 05:30 Sep P 1.00% 1.10% 1.20% -  
                   
  10/28 Initial Jobless Claims 05:30 23-Oct 288k 281k 290k 291k  
                   
  10/28 Continuing Claims 05:30 16-Oct 2420k 2243k 2481k 2480k  
                   
  10/29 PCE Deflator MoM 05:30 Sep 0.30% - 0.40% -  
                   
  10/29 PCE Deflator YoY 05:30 Sep 4.40% - 4.30% -  
                   
 
 
 
 
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