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Market Brief – Tuesday 7/20/21

Stocks started slightly higher and buyers were lined up at the opening bell to drive stock prices higher in early trading. Treasury yields fell in overnight trading and sellers aggressively drove yields back up with 30-year Treasury yields touching just over 1.85% in early trading.

Building permits fell -5.1% in June to 1.598 million permits. Housing starts rose +6.3%  to 1.643 million housing starts.

Stocks reversed yesterday’s losses to close higher on the day and Treasury yields also closed higher with 30-year Treasury yields closing at 1.880%.