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Market Commentary


 

 
Today's Coupons
 
  10-Year Notes   96-30.5 (-08.5)  
 
  FN 2.5% Coupon   104-02 (00)  
 
  Support   0.780%  
 
  Resistance   0.611%  
 
 
 
 
  Tuesday, November 10, 2020
 
 

Treasury Yields Rise as Market Takes Caution

 
 
Market opened today's session with treasuries lower across all maturities. 10-year Treasury yield is at 0.9544, 3.09 bps increased from prior closing of 0.9235.

Stocks fell amid concerns that Monday’s economic rally is outpacing reality. With the S&P 500 falling after reaching a two-month high, big tech was hit the hardest as Amazon.com Inc faced an antitrust complaint from the European Union. Alibaba Group Holding LTD and Tencent Holdings LTD saw shares decline as China passed regulation to control monopolistic practices within the internet industry. This was the same government-led tightening that suspended Ant Group Co.'s $35 billion IPO last week. In the Dow Jones Industrial Average, Boeing noted early gains as U.S. regulators hinted at ending the grounding of 737 Max as soon as next week. Eli Lilly & Co also rose following news that their antibody therapy was granted emergency use authorization by the US. Elsewhere, WTI Crude increased by 1.5% while Gold rose by 1%. Reporting tomorrow are MBA Mortgage Applications for the week end November 6. And on Thursday, Initial Jobless Claims and MoM CPI will be reported, with expectations set at 732,000 and 0.10%, respectively.

The curve has bear-steepened with UST 10-Year yield up 03.09 bps.

 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  11/10 NFIB Small Business Optimism 03:00 Oct 104.10 104.00 104.00 -  
                   
  11/10 JOLTS Job Openings 07:00 Sep 6500 6436 6493 6352  
                   
  11/11 MBA Mortgage Applications 04:00 6 Nov - - 3.80% -  
                   
  11/12 CPI MoM 05:30 Oct 0.10% - 0.20% -  
                   
  11/12 CPI YoY 05:30 Oct 1.30% - 1.40% -  
                   
  11/12 CPI Index NSA 05:30 Oct 260.474 - 260.280 -  
                   
  11/12 CPI Core Index SA 05:30 Oct 269.576 - 269.264 -  
                   
  11/12 Initial Jobless Claims 05:30 7 Nov 732k - 751k -  
                   
  11/12 Continuing Claims 05:30 31 Oct 6900k - 7285k -  
                   
  11/12 Bloomberg Consumer Comfort 06:45 8 Nov - - 47.50 -  
                   
  11/13 PPI Final Demand MoM 05:30 Oct 0.20% - 0.40% -  
                   
  11/13 PPI Final Demand YoY 05:30 Oct 0.40% - 0.40% -  
                   
  11/13 U. of Mich. Sentiment 07:00 Nov P 82.00 - 81.80 -
                   
 
 
 
 
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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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