Back to top

Market Commentary

Market Commentary

Today's Coupons
  10-Year Notes   1.544%  
  Support   1.593%  
  Resistance   1.351%  
  FN 2.5% Coupon   102.875 (+0.250)  
     Thursday, November 04, 2021

U.S Markets Continue to Rally Post Fed Meeting


The Market opened today's session with treasuries higher across all maturities. The 10-year Treasury yield is currently at 1.5770, 2.64 bps lower than prior closing of 1.6034.

The S&P 500 rose for a sixth straight day, heading toward another record. The tech-heavy Nasdaq 100 outperformed major benchmarks and treasuries advanced as investors calmly digested Fed Decision and turned back to corporate earnings and jobs reports. The Fed announced a stimulus-tapering plan as expected, but expressed no hurry to raise benchmark rates. The FOMC discussed their plans to taper purchases with $15 billion a month in initial scale backs, starting with the November 15th. Investors weighed the Federal Reserve’s patience with interest-rate hikes against the risk of persistent inflation and slowing global growth. The U.S. trade deficit widened to a record 11.20% to $80.90 billion in September, from a revised $72.80 billion in August. In the week ended October 30, 269,000 people filed for unemployment insurance, 14,000 down from the prior week's upwardly revised 283,000. Employee productivity fell by the most this quarter, reflecting a sharp pullback in economic growth and an increase in hours worked. Oil rallied 2.00% to $82.46 a barrel as investors awaited an OPEC+ meeting to review. Gold futures rose 1.30% to $1,787.10 an ounce. The MSCI Asia Pacific Index added 0.60% while Japan’s Topix index closed 1.20% higher. In Europe, a solid earnings season fueled a fifth week of 0.50% gains in the benchmark Stoxx 600 gauge. 

The curve has bull-flattened with the UST 10-Year yield down 2.64 bps.

This Week's Events
  11/01 Markit US Manufacturing PMI 06:45 Oct F 59.20 58.40 59.20 -  
  11/01 Construction Spending MoM 07:00 Sep 0.30% -0.50% 0.00% 0.01%  
  11/03 MBA Mortgage Applications 04:00 29-Oct - -3.30% 0.30% -  
  11/03 ADP Employment Change 05:15 Oct 400k 571k 568k 523k  
  11/04 Initial Jobless Claims 05:30 30-Oct 275k 269k 281k 283k  
  11/04 Continuing Claims 05:30 23-Oct 2150k 2105k 2243k 2239k  
  11/05 Change in Nonfarm Payrolls 05:30 Oct 450k - 194k -  
Helpful Links
  Visit Us Online   Submit Loan  
  Get Approved   SeeMyLoanStatusTM  
  Download Rate Sheet   Conventional Program Guidelines  
  Price & Lock   Government Program Guidelines  
  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.  
  ©2021 Sun West Mortgage Company, Inc. All Rights Reserved

Sun West Mortgage Company, Inc. (NMLS ID #3277, is an Equal Opportunity Lender and licensed by the Department of Business Oversight under the California Financing Law License [Loans made or arranged pursuant to a California Financing Law license]; licensed in Arizona as Sun West Mortgage USA, Inc. (FN) and holds a Mortgage Banker License #BK-0909624, licensed in Connecticut as "Mortgage Possible" and holds Mortgage Lender License #19683, an Illinois Residential Mortgage Licensee, a Kansas licensed mortgage company License #MC.0025313, licensed by the Mississippi Department of Banking and Consumer Finance, licensed by the N.J. Department of Banking and Insurance, licensed Mortgage Banker - NYS Department of Financial Services, licensed in New Mexico as Sun West Mortgage USA, Inc. and holds a Mortgage Loan Company License #03201, licensed in Utah as Sun West Mortgage USA Company, Inc. and holds Residential First Mortgage Notification #UDFI-RFMN2015, Rhode Island Licensed Lender. Please refer to and to see where Sun West Mortgage Company, Inc. (NMLS ID 3277) is a licensed lender and servicer. In all jurisdictions, the principal (Main) licensed location of Sun West Mortgage Company, Inc. is 6131 Orangethorpe Avenue, Suite 500, Buena Park, CA 90620, Phone: (800) 453-7884.