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Market Commentary


 
Today's Coupons
 
  10-Year Notes   98-01.5 (+0.5)  
 
  FN 3.5% Coupon   102-15.5 (00)  
 
  Support   2.497%  
 
  Resistance   2.310%  
 
 
 
 
Monday, January 08, 2018
 
 
Today’s session opened with Treasuries higher than Friday. The yield on the UST 10-Year is currently at 2.469% after closing at 2.477% during the prior session.

This week’s economic calendar takes off at 12:00 PM (PT) today with the Consumer Credit report and continues tomorrow with the JOLTS jobs report and Small Business Optimism. The calendar also features the December Import & Export prices and the November Wholesale Inventories on Wednesday, the December PPI reports and Budget Statement on Thursday, and the December CPI reports and Retail Sales data on Friday.

A total of $56 Billion in treasuries will be auctioned this week, starting tomorrow with $24 billion in 3-Years, $20 Billion in 10-Years on Wednesday and $12 Billion in 30-Years on Thursday. Finally, three Federal Reserve Presidents take the spotlight today; including Atlanta’s Bostic discussing U.S. economic outlook and monetary policy in Atlanta, and San Francisco’s Williams and Boston’s Rosengren discussing inflation at the Brookings Institution in Washington D.C. 

The curve has bull-flattened with the UST 10-Year yield down 0.8 bp from prior closing.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  01/08 Consumer Credit 12:00 Nov $18.000b - $20.519b -  
                   
  01/09 NFIB Small Business Optimism 03:00 Dec 107.50 - 107.50 -  
                   
  01/09 JOLTS Job Openings 07:00 Nov 6025 - 5996 -  
                   
  01/10 MBA Mortgage Applications 04:00 5 Jan - - 0.70% -  
                   
  01/10 Import Price Index MoM 05:30 Dec 0.40% - 0.70% -  
                   
  01/10 Import Price Index YoY 05:30 Dec 3.10% - 3.10% -  
                   
  01/10 Export Price Index MoM 05:30 Dec 0.30% - 0.50% -  
                   
  01/10 Export Price Index YoY 05:30 Dec - - 3.10% -  
                   
  01/10 Wholesale Trade Sales MoM 07:00 Nov - - 0.70% -  
                   
  01/10 Wholesale Inventories MoM 07:00 Nov F 0.70% - 0.70% -  
                   
  01/11 PPI Final Demand MoM 05:30 Dec 0.20% - 0.40% -  
                   
  01/11 PPI Final Demand YoY 05:30 Dec 3.00% - 3.10% -  
                   
  01/11 Initial Jobless Claims 05:30 6 Jan 245k - 250k -  
                   
  01/11 Continuing Claims 05:30 30 Dec 1920k - 1914k -  
                   
  01/11 Bloomberg Consumer Comfort 06:45 7 Jan - - 51.80 -  
                   
  01/11 Monthly Budget Statement 11:00 Dec -$30.00b - -$138.50b -  
                   
  01/12 CPI MoM 05:30 Dec 0.10% - 0.40% -  
                   
  01/12 CPI YoY 05:30 Dec 2.10% - 2.20% -  
                   
  01/12 Retail Sales Advance MoM 05:30 Dec 0.50% - 0.80% -  
                   
  01/12 Business Inventories 07:00 Nov 0.40% - -0.10% -  
                   
 
 
 
 
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