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Market Commentary



 
Today's Coupons
 
  10-Year Notes   99-08.5 (-08)  
 
  FN 2.5% Coupon   105-04.5 (+01.5)  
 
  Support   0.791%  
 
  Resistance   0.615%  
 
 
 
 
  Monday, December 28, 2020
 
 

Treasury Yields Rise as Coronavirus Aid Moves Forward

 
 
Market opened today's session with treasuries lower across all maturities. 10-Year Treasury yield is at 0.9531, 3.00 bps increased from prior closing of 0.9231.
US equities opened higher this morning after US President Donald Trump signed off on a $2.3 trillion coronavirus aid package. Trump continued to push for $2,000 stimulus payments, however this request is non-binding unless passed by lawmakers, which seems very unlikely. From a global standpoint, coronavirus measures continue kicking off, with Japan banning entry to foreigners through the end of January, 2021. Elsewhere, Alibaba Group Holding Ltd. saw shares fall in Hong Kong, even after increasing its buy-back program by $10 billion, a move that comes amidst increased scrutiny by Chinese authorities over monopolistic practices. In other news, Bitcoin surpassed $28,000 on Sunday, while WTI crude fell by 0.2% and Gold rose by 0.3%. On the economic front, reporting later today is the Dallas Fed Manufacturing Activity Index, with expectations set for a slight decrease towards 11.60, for the month of December. Reporting later this week on Wednesday are Wholesale Inventories MoM and MNI Chicago PMI, both expected at 0.60% and 56.30, respectively.
The curve has bear-steepened with UST 10-Year yield up 3.00 bps.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  12/28 Dallas Fed Manf. Activity 07:30 Dec 11.60 9.70 12.00 -  
                   
  12/29 S&P CoreLogic CS 20-City MoM SA 06:00 Oct 1.00% - 1.27% -  
                   
  12/29 S&P CoreLogic CS 20-City YoY NSA 06:00 Oct 6.95% - 6.57% -  
                   
  12/30 Wholesale Inventories MoM 05:30 Nov P 0.60% - 1.10% -  
                   
  12/31 Initial Jobless Claims 05:30 26 Dec 830k - 803k -  
                   
  12/31 Continuing Claims 05:30 19 Dec 5390k - 5337k -  
                   
  12/31 Bloomberg Consumer Comfort 06:45 27 Dec - - 47.00 -  
                   
 
 
 
 
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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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