The Day Ahead: Jobless Claims, International Trade, Bond Auction
September 9, 2010 – 4:25 amPosted To: MBS Commentary
Global markets were generally higher overnight and US equity futures are following on their coattails ahead of weekly employment data, monthly trade gap figures, and the start of the NFL football season. Ninety minutes before the opening bell, S&P 500 futures are +3.50 points to 1,102.75 while Dow futures are 26 points higher at 10,418. So far in September, the S&P has risen 34.3 points and the Dow has gained 236 points. Benchmark interest rates are on the rise as investors reallocate funds into equity markets. The 10-year Treasury note is -0-08 at 99-16 yielding 2.681% (+2.7bps) and the October Delivery FNCL 4.0 is -0-03 at 102-18. “The mood in global equity markets is generally positive,” wrote BMO Capital Markets in a morning note. They mentioned that investor sentiment…(read more)