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Market Commentary


 
Today's Coupons
 
  10-Year Notes   96-20 (+05)  
 
  FN 3.5% Coupon   101-12 (+03)  
 
  Support   2.659%  
 
  Resistance   2.342%  
 
 
 
 
Monday, January 22, 2018
 
 
Today’s session opened with Treasuries higher than Friday. The yield on the UST 10-Year is currently at 2.642% after closing at 2.660% during the prior session.

Treasuries stabilized and inched higher at the opening of today’s session, following several days of continued sell-off, as the federal government enters its third day of operational shutdown. Bipartisan efforts on Sunday night to negotiate a spending bill that included immigration programs funding were insufficient to produce an agreement. Late yesterday Republican leader McConnell called for a Monday vote at noon ET to approve a plan that would fund government until February 8.

The economic calendar today features the Chicago Fed National Activity Index, which reflected a 0.27 print for December, beating estimates of 0.22 for the period and rising above its prior 0.11 revised. Further, A Treasury notes auction cycle is scheduled to begin tomorrow and features $26 Billion in 2-Years, $34 Billion in 5-Years and $28 Billion in 7-Years.

The curve has bull-flattened with the UST 10-Year yield down 1.8 bps from prior closing.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  01/22 Chicago Fed Nat Activity Index 05:30 Dec 0.22 0.27 0.15 0.11  
                   
  01/23 Richmond Fed Manufact. Index 07:00 Jan 19.00 - 20.00 -  
                   
  01/24 MBA Mortgage Applications 04:00 19 Jan - - 4.10% -  
                   
  01/24 FHFA House Price Index MoM 06:00 Nov 0.50% - 0.50% -  
                   
  01/24 Markit US Composite PMI 06:45 Jan P - - 54.10 -  
                   
  01/24 Markit US Services PMI 06:45 Jan P 54.30 - 53.70 -  
                   
  01/24 Markit US Manufacturing PMI 06:45 Jan P 55.00 - 55.10 -  
                   
  01/24 Existing Home Sales  07:00 Dec 5.70m - 5.81m -  
                   
  01/24 Existing Home Sales MoM 07:00 Dec -1.90% - 5.60% -  
                   
  01/25 Wholesale Inventories MoM 05:30 Dec P 0.40% - 0.80% -  
                   
  01/25 Initial Jobless Claims 05:30 20 Jan 235k - 220k -  
                   
  01/25 Continuing Claims 05:30 13 Jan 1925k - 1952k -  
                   
  01/25 Bloomberg Consumer Comfort 06:45 21 Jan - - 53.80 -  
                   
  01/25 New Home Sales 07:00 Dec 675k - 733k -  
                   
  01/25 New Home Sales MoM 07:00 Dec -7.90% - 17.50% -  
                   
  01/25 Leading Index 07:00 Dec 0.50% - 0.40% -  
                   
  01/25 Kansas City Fed Manf. Activity 08:00 Jan 15.00 - 14.00 -  
                   
  01/26 Personal Consumption 05:30 4Q 3.70% - 2.20% -  
                   
  01/26 GDP Annualized QoQ 05:30 4Q A 3.00% - 3.20% -  
                   
  01/26 GDP Price Index 05:30 4Q A 2.30% - 2.10% -  
                   
  01/26 Core PCE QoQ 05:30 4Q A 1.90% - 1.30% -  
                   
  01/26 Durable Goods Orders 05:30 Dec P 0.90% - 1.30% -  
                   
  01/26 Durables Ex Transportation 05:30 Dec P 0.60% - -0.10% -  
                   
 
 
 
 
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