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Market Commentary


 
Today's Coupons
 
  10-Year Notes   103-24.5 (+03.5)  
 
  FN 3.5% Coupon   100-01 (+02.5)  
 
  Support   3.237%  
 
  Resistance   2.543%  
 
 
 
 
Monday, January 14, 2019
 
 
Market opened today’s session with treasuries rallying across all maturities. 10-Year treasury yield is at 2.6864, 1.43 bps decreased from prior closing of 2.7007.

The ongoing concerns over global economic growth were deepened even further by Chinese exports and imports figures from December dropping unexpectedly. US equity futures slipped as Citigroup Inc missed revenue expectation on fixed-income trading which plunged 21 percent in the fourth quarter to the lowest in seven years. Treasuries advanced and the dollar edged lower. In Washington, as the government shutdown entered its fourth week; renewing the record of the longest lapse in federal funding, there still hasn’t been any sign of progress to end the dispute. Elsewhere, WTI crude pared some of its gain from last week this morning.

We don’t have anything posting in the economic calendar today, and many of data for the remainder of the week are likely to be delayed due to the partial government shutdown. The Beige Book will be released by the Fed at 11 AM (PT) on Wednesday.

The curve has bull-steepened with UST 10-Year yield down 1.43 bps.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  01/14 No Data - - - - - -  
                   
  01/15 Empire Manufacturing 05:30 Jan 11.3 - 10.90 -  
                   
  01/15 PPI Final Demand MoM 05:30 Dec -0.10% - 0.10% -  
                   
  01/15 PPI Final Demand YoY 05:30 Dec 2.50% - 2.50% -  
                   
  01/16 MBA Mortgage Applications 04:00 11 Jan - - 23.50% -
                 
  01/16 Retail Sales Advance MoM 05:30 Dec 0.10% - 0.20% -
                 
  01/16 Import Price Index MoM 05:30 Dec -1.30% - -1.60% -
                 
  01/16 Import Price Index YoY 05:30 Dec -0.90% - 0.70% -
                 
  01/16 Export Price Index MoM 05:30 Dec -0.70% - -0.90% -
                 
  01/16 Export Price Index YoY 05:30 Dec - - 1.80% -
                   
  01/16 Business Inventories 07:00 Nov 0.30% - 0.60% -  
                   
  01/16 NAHB Housing Market Index 07:00 Jan 56.00 - 56.00 -  
                   
  01/17 Housing Starts 05:30 Dec 1253k - 1256k -  
                   
  01/17 Housing Starts MoM 05:30 Dec -0.20% - 3.20% -  
                   
  01/17 Building Permits 05:30 Dec 1290k - 1328k -  
                   
  01/17 Building Permits MoM 05:30 Dec -2.90% - 5.00% -  
                   
  01/17 Initial Jobless Claims 05:30 12 Jan 220k - 216k -  
                   
  01/17 Continuing Claims 05:30 5 Jan - - 1722k -  
                   
  01/17 Philadelphia Fed Business Outlook 05:30 Jan 10.00 - 9.40 9.10  
                   
  01/17 Bloomberg Consumer Comfort 06:45 13 Jan - - 58.50 -  
                   
  01/18 Capacity Utilization 06:15 Dec 78.50% - 78.50% -  
                   
  01/18 U. of Mich. Sentiment 07:00 Jan P 96.80 - 98.30 -  
                   
 
 
 
 
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