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Market Commentary


 
Today's Coupons
 
  10-Year Notes   96-06.5 (-10)  
 
  FN 3.5% Coupon   102-05 (-08)  
 
  Support   2.509%  
 
  Resistance   2.309%  
 
 
 
 
Tuesday, January 24, 2017
 
 
Yesterday President Trump formally withdrew the U.S. from the Trans-Pacific Partnership (TPP) agreement, which moved treasuries higher. This morning the market opened up with treasuries modestly lower after the UK government lost its challenge on the Brexit vote, erasing most of yesterday's gains. The UST 10-Year yield is higher this morning at 2.428% after closing at 2.397% prior.

The flash reading of the January Markit US Manufacturing PMI came in at 55.10, which was higher than the expected 54.50 rise. Existing Home Sales slipped to 5.49 Million versus 5.65 Million prior (revised), and Existing Home Sales MoM reported at -2.80% versus 1.40% prior (revised). Richmond Fed Manufacturing Index jumped to 12.00 from 8.00 prior. At 10:00 AM (PT), Treasury will auction $26 Billion new 2-Year notes, and at 12:00 PM (PT), Treasury will release the latest investor class auction data.

The curve has bear-steepened with the UST 10-Year up 3.1 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 55.10 54.30 -  
                   
  01/24 Existing Home Sales 07:00 Dec 5.52 M 5.49 M 5.61 M 5.65 M  
                   
  01/24 Existing Home Sales MoM 07:00 Dec -1.60% -2.80% 0.70% 1.40%  
                   
  01/24 Richmond Fed Manufact. Index 07:00 Jan 7.00 12.00 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 0.10% - 1.00% -  
                   
  01/26 Chicago Fed Nat Activity Index 05:30 Dec -0.05 - -0.27 -  
                   
  01/26 Initial Jobless Claims 05:30 21 Jan 247K - 234K -  
                   
  01/26 Continuing Claims 05:30 14 Jan 2040K - 2046K -  
                   
  01/26 Markit US Services PMI 06:45 Jan P 54.40 - 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 587K - 592K -  
                   
  01/26 New Home Sales MoM 07:00 Dec -0.80% - 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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