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Market Commentary


 
Today's Coupons
 
  10-Year Notes   96-10.5 (+12)  
 
  FN 3.5% Coupon   102-10.5 (+09.5)  
 
  Support   2.509%  
 
  Resistance   2.309%  
 
 
 
 
Monday, January 23, 2017
 
 
Market opened with treasuries slightly higher across the curve this morning as investors hope for more clarity on President Trump's fiscal-policy plans. Last week the market continuously sold-off leading up to the inauguration of the 45th president of the United States. The UST 10-Year yield is lower this morning at 2.461% this morning after closing at 2.467% on Friday.

There are no data scheduled to be released today with another light economic calendar week. Tomorrow we have the Existing Home Sales and Markit US Manufacturing PMI. On Wednesday, we have the MBA Mortgage Applications and FHFA House Price Index MoM, and on Thursday, we have Wholesale Inventories MoM, Initial Jobless and Continuing Claims, and New Home Sales. Lastly, on Friday we have the first reading on 4Q GDP, where expectations are that the economy expanded 2.20% on a slightly slower 2.50% pace of growth in personal consumption.

The curve has bull-flattened with the UST 10-Year down 1.7 bps from prior closing.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  01/23 No Data - - - - - -  
                   
  01/24 Markit US Manufacturing PMI 06:45 Jan P 54.50 - 54.30 -  
                   
  01/24 Existing Home Sales 07:00 Dec 5.50 M - 5.61 M -  
                   
  01/24 Existing Home Sales MoM 07:00 Dec -2.00% - 0.70% -  
                   
  01/24 Richmond Fed Manufact. Index 07:00 Jan 6.00 - 8.00 -  
                   
  01/25 MBA Mortgage Applications 04:00 20 Jan - - 0.80% -  
                   
  01/25 FHFA House Price Index MoM 06:00 Nov 0.40% - 0.40% -  
                   
  01/26 Wholesale Inventories MoM 05:30 Dec P 0.30% - 1.00% -  
                   
  01/26 Chicago Fed Nat Activity Index 05:30 Dec - - -0.27 -  
                   
  01/26 Initial Jobless Claims 05:30 21 Jan 247K - 234K -  
                   
  01/26 Continuing Claims 05:30 14 Jan - - 2046K -  
                   
  01/26 Markit US Services PMI 06:45 Jan P 54.60 - 53.90 -  
                   
  01/26 Markit US Composite PMI 06:45 Jan P - - 54.10 -  
                   
  01/26 Bloomberg Consumer Comfort 06:45 22 Jan - - 45.20 -  
                   
  01/26 New Home Sales 07:00 Dec 586K - 592K -  
                   
  01/26 New Home Sales MoM 07:00 Dec -1.00% - 5.20% -  
                   
  01/26 Leading Index 07:00 Dec 0.50% - 0.00% -  
                   
  01/26 Kansas City Fed Manf. Activity 08:00 Jan 8.00 - 11.00 -  
                   
  01/27 GDP Annualized QoQ 05:30 4Q A 2.20% - 3.50% -  
                   
  01/27 Personal Consumption 05:30 4Q A 2.50% - 3.00% -  
                   
  01/27 GDP Price Index 05:30 4Q A 2.10% - 1.40% -  
                   
  01/27 Core PCE QoQ 05:30 4Q A 1.40% - 1.70% -  
                   
  01/27 Durable Goods Orders 05:30 Dec P 2.60% - -4.50% -  
                   
  01/27 Durables Ex Transportation 05:30 Dec P 0.50% - 0.60% -  
                   
  01/27 U. of Mich. Sentiment 07:00 Jan F 98.10 - 98.10 -  
                   
 
 
 
 
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