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Market Commentary


 
Today's Coupons
 
  10-Year Notes   95-27 (-14)  
 
  FN 3.5% Coupon   101-28.5 (-07.5)  
 
  Support   2.467%  
 
  Resistance   2.305%  
 
 
 
 
Thursday, January 19, 2017
 
 
Treasuries continued a sell-off session this morning after Fed Chair Yellen agreed with the FOMC's December 2016 median estimate yesterday; a few rate increases per year. 10-Year treasury yield is at 2.457, increased 2.7 bps from prior closing of 2.430.

Both Housing Starts and Building Permits increased to 1226k and 1210k vs. 1090k and 1201k prior, respectively. These erratic movements were mainly due to seasonal factor where construction industry picks up its level of activity towards the spring season. Initial Jobless Claims came in at 234k, continuing its 98 consecutive week of under 300k. Continuing Claims also dropped to 2046k vs. 2087k prior and Philadelphia Fed Index showed an improvement of 23.60 vs. 21.50 prior as well.

US Treasury will auction $13 Billion in 10-Year notes at 10:00 AM (PT) and Fed Chair Yellen is scheduled to speak to the Stanford Institute for economic policy later this evening at 5:00 PM (PT).

The curve has bear-steepened with UST 10-Year yield up 2.7 bps.

 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  01/16 No Data - - - - - -  
                   
  01/17 Empire Manufacturing 05:30 Jan 8.50 6.50 9.00 7.60  
                   
  01/18 MBA Mortgage Applications 04:00 13 Jan - 0.80% 5.80% -  
                   
  01/18 CPI MoM 05:30 Dec 0.30% 0.30% 0.20% -  
                   
  01/18 CPI YoY 05:30 Dec 2.10% 2.10% 1.70% -  
                   
  01/18 Real Avg Weekly Earnings YoY 05:30 Dec - 0.20% 0.50% 0.20%  
                   
  01/18 Industrial Production MoM 06:15 Dec 0.60% 0.80% -0.40% -0.70%  
                   
  01/18 Capacity Utilization 06:15 Dec 75.40% 75.50% 75.00% 74.90%  
                   
  01/18 NAHB Housing Market Index 07:00 Jan 69.00 - 70.00 -  
                   
  01/18 Total Net TIC Flows 13:00 Nov - - -$18.80 B -  
                   
  01/19 Housing Starts 05:30 Dec 1188K 1226K 1090K 1102K  
                   
  01/19 Housing Starts MoM 05:30 Dec 9.00% 11.30% -18.70% -16.50%  
                   
  01/19 Building Permits 05:30 Dec 1225K 1210K 1201K 1212K  
                   
  01/19 Building Permits MoM 05:30 Dec 1.10% -0.20% -4.70% -3.80%  
                   
  01/19 Initial Jobless Claims 05:30 14 Jan 252K 234K 247K 249K  
                   
  01/19 Continuing Claims 05:30 7 Jan 2075K 2046K 2087K 2093K  
                   
  01/19 Philadelphia Fed Business Outlook 05:30 Jan 15.30 23.60 21.50 19.70  
                   
  01/19 Bloomberg Consumer Comfort 06:45 15 Jan - - 45.10 -  
                   
  01/20 No Data - - - - - -  
                   
 
 
 
 
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