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Market Commentary

Market Commentary

January 2, 2015
10-YEAR NOTES   100-24 (+02)
FN 3.5% COUPON   104-10.5 (+00)
SUPPORT   2.42%
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We have a quiet day in the market today with the absence of the usual Nonfarm Payrolls, and in light of the shortened week. Markit US Manufacturing PMI is expected to rise to 54 vs. 53.7 prior, Construction Spending is expected to rise +0.4% after a +1.1% rise in October and ISM Manufacturing is expected to slip to 57.5 vs. 58.7 prior. Treasuries declined for the first time in 5 days before the data dump today and the curve has bull flattened with 2s10s down -1.5 bps.
Have A Nice Weekend!
Today's Events:
01/02 Manufacturing PMI 06:45 December F 54.0 53.9 53.7 -
01/02 Construction Spending MoM 07:00 November 0.4% - 1.1% -
01/02 ISM Manufacturing 07:00 December 57.5 - 58.7 -
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